Exponential Functions Part 3 - Compound Interest

Part 3 of a 4 part series on exponential functions discusses compound interest. Compound Interest is described and formula for calculation it is presented. An example problem is demonstrated

[mujtabafarooq]

Thank you very much.. it was really helpful 

[pcuimac]

There is a mistake in this: You don't divide the interest for a year by the number of months in a year. The interest per year is greater than 12 times r. Just remove the 1/n factor out of the equation and take n as the number of years you get the yearly interest or make n the number of months and r the monthly interest. wkr