What is the formula for compound interest?
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Below is Compound Interest Formula
A = P (1 + r/n)^(nt)
Where: A is the amount of money you will have after “t” years. P is the initial amount of money (principal). r is the annual interest rate (expressed as a decimal). n is the number of times the interest is compounded per year. t is the number of years the money is invested or borrowed.