Math 20P   Simple and Compound Interest

Many resources show simple interest as i = Prt and compound interest as A = P(1 + i)n

BUT it may be easier to compare if we look at formulas for calculating amount for both interest types:

A = Amount, P = Principle, r = interest rate (%), n = number of interest periods, t = time

Simple Interest: A = P + Prt          or          Compound Interest: A = P(1 + r/n)nt

 

 

 
 
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