InvestorQ : Principal amount is10000. Compound Interest rate is 10% yearly Time 20 years. Total amount with interest?
Narendra Kumar made post

Principal amount is10000. Compound Interest rate is 10% yearly Time 20 years. Total amount with interest?

Answer
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Anushri Vasa answered.
5 months ago


Narendra,

As per the formula - Compound Interest = P(1+i)t-P

Here P - Principal amount, i - interest rate, t- the time period

So Compound Interest = 10000(1+10)20 - 10000

= 10000(11)20-10000

= 67,275-10000

So, Compound Interest =57,275