Can anyone give me the formula tobe calculated on calculator as to how banks calculate recurring deposit value - formula for recurring deposit calculator
Nt I really do not understand the question, but the compound interest formula P = (1 + r / n) ^ where P = principal, r = interest rate in decimal form, n = number of times compounded per year t = Capital has years to grow .. to be realized.
if done consistently over a natural rt Pe = e ^ = base
or to find the value after each use of a composition P = (1 + r) ^ t
If you deposit $ 1,000 5% compound quarterly for 5 years ...
A = $ 1000 (1 + .05 / 4) ^ 4 * 5 formula for compound interest
$ A = 1000e ^ .05 * 5 continuous composite
A = $ compound 1000 (1 + .05) ^ 5 once a year
after the computer is the order that you enter determine.
first answer is $ 1282.037
The second answer is $ 1284.025
and $ 1276.281
Hope this helps
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