mikrophone
1 Answer
coolandy2000
I know the method the long way, which is how I worked out what the credit company owes me on their fraud scheme which is what I am claiming, so they don't sue me and I don't get my refund, but it stops them from reporting me to the crib.
day 1 = USD 300, x 1.05% = 3.15 usd per day = 303.15
day 2 = USD 303.15 x 1.05% = and so on and so forth.
Oh good! I learned something new today.
This is the formula.. And an example. and the website if you need to know is http://math.about.com/od/formulas/a/compound.htm
M = P( 1 + i )n
M is the final amount including the principal.
P is the principal amount.
i is the rate of interest per year.
n is the number of years invested.
Applying the Formula
Let's say that I have A $1000 .00 to invest for 3 years at rate of 5% compound interest.
M = 1000 (1 + 0.05)3 = 1157.62.
You can see that my $1000 .00 is worth 1157.62.
| 13 years ago. Rating: 0 | |
