What is the amount of compound interest for the investment in previous question
To calculate the amount of compound interest, we need to know the principal amount, the interest rate, and the time period. Since you mentioned a previous question, I don't have access to that specific information. However, I can guide you on how to calculate it.
Here's the formula to calculate compound interest:
A = P(1 + r/n)^(nt) - P
Where:
A is the final amount (including principal and interest)
P is the principal amount (initial investment)
r is the annual interest rate (as a decimal)
n is the number of times that interest is compounded per year
t is the number of years
To calculate the compound interest, you subtract the principal (P) from the final amount (A). Using the formula, you can substitute the values and calculate it.
If you provide me with the principal amount, the interest rate, and the time period, I can help you calculate the compound interest for your specific investment.