|Compound Interest Calculator||Calculating Interest Rate for Compounding||Calculating time required to reach goal|
The formula for Calculating Compound Interest Rate: r =n((F/P)1/nt -1)
If you start a bank account with $1500 and your bank compounds the interest quarterly at an annual nominal interest rate
. Find the balance after 6 years is $1900. Using the formula above, with P = 1200,
F = 1900, n = 4, and t = 6: r =4X((1900/1600)1/(4X5)
-1)X100.So, the annual nominal interest rate is 3.96%.
Top Use: Compound Interest Rate Calculator - Principal:4219 Future:6264 Times:1 Years:5
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