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The compound interest formula is A = P ( 1 + r n ) n * t where A is the amount in the account
The compound interest formula is where
is the amount in the account after years;
is the amount in the account initially;
is the interest rate as a decimal;
is the total number of years the money will be in the account;
is the number of compundings per year.
This question is just a quick check to verify that your are comfortable with the different compounding periods.
If the interest compounds annually,
If the interest compounds semiannually,
If the interest compounds quarterly,
If the interest compounds monthly,
If the interest compounds weekly,
If the interest compounds daily,
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