In the periodic compound interest formula Upper A equals Upper P (1 plus StartFraction r Over n EndFraction )Superscript nt , w hat does the variable n represent?
1 answer:
Answer:
The variable n represents the number of times in a year in which we compound the interest rate
Step-by-step explanation:
The periodic compound interest formula is given as;
A = P( 1 + r/n)^nt
The variable n represents the number of times in a year in which the interest rate is compounded
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