Amount, when interest is compounded annually, is given by the formula_____

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Solution

Amount, when interest is compounded annually, is given by the formula $A = P {(1 + \frac{R}{100})}^{T}$
Where
$A =$ Amount
$P =$ Principal
$R =$ Rate
$T =$ time
Compound interest is the interest calculated on the principal and the interest accumulated over the previous period.

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