C Programming for Experienced Engineers/

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Example 33: Calculate Interest

Example 33: Calculate Interest

Learn how to calculate interest on the given amount.

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Problem

When interest compounds q times per year at an annual rate of r% for n years, the principal p compounds to an amount a as per the following formula:

a=p(1+rq∗100)nqa=p(1+ \frac{{r}}{q * 100})^{nq}
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