Question
Amount when interest is compounded annually is given by the formula _________.
✓
Answer
Amount when interest is compounded annually is given by the formula $\text{A}=\text{P}\Big(1+\frac{\text{R}}{100}\Big)^{\text{T}}$.
Solution:
Amount when interest is compounded annually is given by the formula $\text{A}=\text{P}\Big(1+\frac{\text{R}}{100}\Big)^{\text{T}}$
where, $P =$ principal,
$R =$ rate per annum and
$T =$ time
Solution:
Amount when interest is compounded annually is given by the formula $\text{A}=\text{P}\Big(1+\frac{\text{R}}{100}\Big)^{\text{T}}$
where, $P =$ principal,
$R =$ rate per annum and
$T =$ time
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