Question: Write the given formula: Total compounded interest = P (1 + r) (t)-P Where P is the principal loan amount r is the annual interest
Write the given formula: Total compounded interest = P (1 + r) (t)-P Where P is the principal loan amount r is the annual interest rate (decimal number) n = no of times per year the interest is compounded (if monthly, them n will be 12) t = number of years the loan is borrowed for. The function should return the total compound interest. a value return function that can be used to compute the compound interest based on 4. -mon cord from a restaurant
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
