I once had a math problem where in order to find P in A = P (1 + R/100) ^ N, I needed to find the interest of another question and subtract it by P to get "P" Here. But I don't know how to look it up or how to find another question like it in order to practice.
For example: You invested $500 at an annual interest rate of 5% for 3 years. What is the total amount of interest earned? As well as "you invest $5,000 at an annual interest rate of 4% compounded annually. How much money will you have after 5 years?"
For the first question if the interest is 75,
You would subtract that by P in compound interest, so P = 500 - 75 to form the equation...
A = 425 ( 1 + 4/100) ^ 5
Is there anywhere I can find other questions like these that explains it better?
#Consumer Arithmetic
regal gazelle
mystic shaleBOT
I once had a math problem where in order to find P in A = P (1 + R/100) ^ N, I n...
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real summit
regal gazelle
@real summit Thanks! But this one in particular involved two equations, which is what I was confused about. It involved both Compound interest and simple interest in order for me to find the answer