what is the formula for the rate of interest of an investment compounded monthly?
Question
Solution 1
To calculate the rate of interest of an investment compounded monthly, you can use the formula for compound interest. The formula is:
A = P(1 + r/n)^(nt)
Where: A = the future value of the investment P = the principal amount (initial investment) r = the annual interest rate (in decimal form) n = t Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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