S = D x [ (1 + r ) n ]
D = amount deposited
r = monthly interest rate (APR/12)
n = number of months deposited. S = amount after n months. Interest earned = S - D
What Is The Formula To Calculate Bank Interest ? For Example I Invested £153000 At The Rate Of 10% For 36 Months. What Will Be The Sum On Maturity?
S = D x [ (1 + r ) n ]
D = amount deposited
r = monthly interest rate (APR/12)
n = number of months deposited. S = amount after n months. Interest earned = S - D