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msingh
 one year ago
i didn't understand how it comes , can any body explain, plse go through the following link:
http://www.jiskha.com/display.cgi?id=1364807092
msingh
 one year ago
i didn't understand how it comes , can any body explain, plse go through the following link: http://www.jiskha.com/display.cgi?id=1364807092

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mathslover
 one year ago
Best ResponseYou've already chosen the best response.2@msingh , let us first start with your introduction with compound interest formula. Can you tell me the formula for compound interest Msingh?

msingh
 one year ago
Best ResponseYou've already chosen the best response.0yes, i know theformula for CI

mathslover
 one year ago
Best ResponseYou've already chosen the best response.2What is the formula for Amount?

mathslover
 one year ago
Best ResponseYou've already chosen the best response.2\(A_n = P(1+\cfrac{R}{100})^n\)

mathslover
 one year ago
Best ResponseYou've already chosen the best response.2n = no. of times compounded ...

mathslover
 one year ago
Best ResponseYou've already chosen the best response.2Solve A for 8% interest first [n=1 as it is compounded annualy]

phi
 one year ago
Best ResponseYou've already chosen the best response.1See http://en.wikipedia.org/wiki/Compound_interest#Compound_Interest for a formula

phi
 one year ago
Best ResponseYou've already chosen the best response.1the interest rate for 10% compounded semiannually (i.e. twice a year) means you use rate= 0.10/2 the number of compoundings in one year is 2, so the formula is P (1+ r/(100*2))^(2*1) or P (1+0.05)^2

phi
 one year ago
Best ResponseYou've already chosen the best response.1the amount of principal plus interest for 8% compounded annually for one year is just P(1+0.08)^1 or P(1+0.08)

phi
 one year ago
Best ResponseYou've already chosen the best response.1if you had compounding monthly, for n years it would be P(1+r/(100*12))^(12*n)

mathslover
 one year ago
Best ResponseYou've already chosen the best response.2@msingh is your doubt clear now?

msingh
 one year ago
Best ResponseYou've already chosen the best response.0yeah, i have solved it ...but one thing i have doubt about this line AFTER 1 YEAR WOULD HAVE BEEN 225 MORE

mathslover
 one year ago
Best ResponseYou've already chosen the best response.2It means you have X apples today then after 1 year you will have 225 + X apples. I just gave you an example.

mathslover
 one year ago
Best ResponseYou've already chosen the best response.2On the place of apples, we are talking about amount here. Welcome msingh

msingh
 one year ago
Best ResponseYou've already chosen the best response.0@mathslover & @phi thank you so much
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