Question

What is the equation for continuous growth or compound interest

Answer 1

Answer: A = P(1 + \frac{r}{n})^{nt}

Step-by-step explanation: A = P(1 + \frac{r}{n})^{nt}

A = final amount

P = initial principal balance

r = interest rate

n = number of times interest applied per time period

t = number of time periods elapsed

From the web

The compound interest formula is ((P*(1+i)^n) - P), where P is the principal, i is the annual interest rate, and n is the number of periods.