In this video, we learn how to calculate compound interest. Start with your example of investing $2000 at 3% interest over four years. Now, write down how much you have at the start of year one. To find the percent of this you will need to simply do the amount divided by one hundred and times it by three. Then, you will find the number for the amount of interest you had for that year. Continue to do this for each year and the amount of money you will increase each year. Do this until you reach the fourth year and you're finished!
Want to master Microsoft Excel and take your work-from-home job prospects to the next level? Jump-start your career with our Premium A-to-Z Microsoft Excel Training Bundle from the new Gadget Hacks Shop and get lifetime access to more than 40 hours of Basic to Advanced instruction on functions, formula, tools, and more.
Other worthwhile deals to check out:
- 97% off The Ultimate 2021 White Hat Hacker Certification Bundle
- 98% off The 2021 Accounting Mastery Bootcamp Bundle
- 99% off The 2021 All-in-One Data Scientist Mega Bundle
- 59% off XSplit VCam: Lifetime Subscription (Windows)
- 98% off The 2021 Premium Learn To Code Certification Bundle
- 62% off MindMaster Mind Mapping Software: Perpetual License
- 41% off NetSpot Home Wi-Fi Analyzer: Lifetime Upgrades