Compound Interest
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Compound Interest
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# Investment Details
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$initial investment = 10000
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annual interest rate = 7 // %
%
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investment period = 20 // years
years
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compounds per year = 12
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# Calculation
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rate per period = (annual interest rate / 100) / compounds per year
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total periods = investment period * compounds per year
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# Results
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$final amount = round(initial investment * (1 + rate per period)^total periods, 2)
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$total interest earned = round(final amount - initial investment, 2)
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