10.3 Compound Interest
interest on your interest, compounding causes you to earn more money (or owe more money) in the long run than simple interest. Periodic Interest Rate: p Periodic interest is how much interest you are charged/you earn per compounding period. r = APR (annual percentage rate) m = number of compounding periods per year 𝒑= 𝒓 𝒎 Example: ................
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