Interest Formulas

Question 1

Simple Interest

Answer 1

Kn = Ko x (1 + n x p)
Ko - initial sum
Kn - balance after n periods
n - number of periods
p - interest % for one period

Question 2

Compound Interest

Answer 2

Kn = Ko x (1 + p)^n
Ko - initial sum
Kn - balance after n periods
n - number of periods
p - interest % for one period