What is the Formula for Compound Interest?

What is the Formula for Compound Interest?

Note:

Things like bank accounts, loans, investments, and mortgages are a part of life, and almost always, interest is involved. Sometimes, you need to deal with compound interest, so it would be good to know the formula for it! In this tutorial, you'll see the formula for compound interest. Take a look!

Keywords:

  • formula
  • compound interest
  • compound
  • interest
  • new balance
  • over time
  • principal

Background Tutorials

  • apply mathematics to problems arising in everyday life, society, and the workplace

      • What is the Formula for Simple Interest?What is the Formula for Simple Interest?

      What is the Formula for Simple Interest?

      Interest is found in a bunch of places: savings accounts, mortgages, loans, investments, credit cards, and more! Watch this tutorial and learn how to calculate simple interest!

  • apply mathematics to problems arising in everyday life, society, and the workplace

      • How Do You Use the Formula for Simple Interest?How Do You Use the Formula for Simple Interest?

      How Do You Use the Formula for Simple Interest?

      If you already have a bank account or if you plan to have one in the future, then this tutorial is a must see! Follow along as this tutorial goes through a word problem involving simple interest.