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To Tap into the Money Making Magic of Compound Interest You Must Know the Mathematics and Techniques Involved in It

Compound interest refers to the growth of money over time which is invested in a bank or any other financial organization.The organization also invests that money in different segment such as several personal lone, business loan housing loan, educational loan, different kind of insurance purposes etc. for high interest rate. Thus, a huge amount of money is generated from your small amount of investment. As bank earns money from your investment so, it pays a low interest on your invested money as a sort of rent. Hence, your investment also grows over the time. So you can understand that, compound interest has a great influence on the total flow of money and it helps to maximize the money supply in a country. Hence, it plays a vital role in the economy of a country. So student you may realize now that compound interest is not only mathematics, economics also involved in it. Doing homework on this topic is pretty tough and required intelligences and special calculative brain. Don’t be so upset! Every problem has a solution, here myhomeworkhelp.com is your best solution for getting a compound interest homework help.

How it works

Compound interest is implemented on the principal amount of money along with the accumulated interest of previous period on that principal amount. So often it is termed as ‘interest on interest’ or ‘money off money’.

  • The basic formula for calculating any sort of interest is:

Interest = Total resulting amount from the investment –initial Principal amount of investment.

  • For finding out compound interest the formula is a bit complex:

Compound Interest= P {(1 + r/100)n – 1}

Where P= initial principal, r=percentage rate of interest, n=number of compounding       periods.

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Troubles faced

Apparently the formulainvolved may seem to be manageable for students of economics, but there are trap holes in this formula too. If each compounding period is more than once a year then students must make necessary adjustments with r and n. These adjustments are not very straightforward and often confuse students.This is an ideal place for making major mistakes and getting a wrong answer. Such hassles of complexities and mistakes can be easily avoided, if you leave your assignments on us and accept our compound interest homework help.

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