A15 Compount Interest Flashcards
1
Q
what is compound interest?
A
interest earned also earns interest
2
Q
whats the accumlation function in terms of compount interest.
A
a(t) = a(0) * (1+i)^t
3
Q
what should be assume in interest problems unless stated otherwise?
A
assume ompount interest
assume al interest rate are per annum
