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Home > Algebra calculators > Compound Interest example
Compound Interest example ( Enter your problem )
( Enter your problem )
  1. Example : Find Compound Interest (CI)
  2. Example : Find Principal (P)
  3. Example : Find Rate (R)
  4. Example : Find Time (T)
3. Example : Find Rate (R)
(Previous example)

4. Example : Find Time (T)


1. Compound Interest CI = 210, Principal P = 1000, Rate R = 10, find T (Interest Compounded Annually)

Solution:
Compound Interest CI=210

Principal P=1000

Rate of interest R=10%

Find T, (Interest Compounded Annually)

A=P+I

:.A=1000+210

:.A=1210

We know that
A=P*(1+R/(100n))^(nT)

:.A/P=(1+R/(100n))^(nT)

Taking ln both the sides

:.ln(A/P)=nT*ln(1+R/(100n))

:.T=(ln(A/P))/(n*ln(1+R/(100*n)))

:.T=(ln(1210/1000))/(1*ln(1+10/(100xx1)))

:.T=(ln(1.21))/(ln(1+0.1))

:.T=(ln(1.21))/(ln(1.1))

:.T=(0.19062)/(0.09531)

:.T=2

2. Compound Interest CI = 1050, Principal P = 5000, Rate R = 10, find T (Interest Compounded Annually)

Solution:
Compound Interest CI=1050

Principal P=5000

Rate of interest R=10%

Find T, (Interest Compounded Annually)

A=P+I

:.A=5000+1050

:.A=6050

We know that
A=P*(1+R/(100n))^(nT)

:.A/P=(1+R/(100n))^(nT)

Taking ln both the sides

:.ln(A/P)=nT*ln(1+R/(100n))

:.T=(ln(A/P))/(n*ln(1+R/(100*n)))

:.T=(ln(6050/5000))/(1*ln(1+10/(100xx1)))

:.T=(ln(1.21))/(ln(1+0.1))

:.T=(ln(1.21))/(ln(1.1))

:.T=(0.19062)/(0.09531)

:.T=2

3. Compound Interest CI = 3640, Principal P = 5000, Rate R = 20, find T (Interest Compounded Annually)

Solution:
Compound Interest CI=3640

Principal P=5000

Rate of interest R=20%

Find T, (Interest Compounded Annually)

A=P+I

:.A=5000+3640

:.A=8640

We know that
A=P*(1+R/(100n))^(nT)

:.A/P=(1+R/(100n))^(nT)

Taking ln both the sides

:.ln(A/P)=nT*ln(1+R/(100n))

:.T=(ln(A/P))/(n*ln(1+R/(100*n)))

:.T=(ln(8640/5000))/(1*ln(1+20/(100xx1)))

:.T=(ln(1.728))/(ln(1+0.2))

:.T=(ln(1.728))/(ln(1.2))

:.T=(0.546965)/(0.182322)

:.T=3



This material is intended as a summary. Use your textbook for detail explanation.
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3. Example : Find Rate (R)
(Previous example)


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