In contrast with simple interest, compound interest is computed on the principal and unpaid accumulated interest. To calculate this, you will have to multiply the starting principal amount by 1 adding in the yearly interest rate raised to the number of compound periods minus 1.
Compound Interest
In contrast with simple interest, compound interest is computed on the principal and unpaid accumulated interest. To calculate this, you will have to multiply the starting principal amount by 1 adding in the yearly interest rate raised to the number of compound periods minus 1.
