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Which formula for compound interest??
Started by Charles_Darwin
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Genius' appears to be a simplified form of the equation for compounding interest. As long as you know how compounding interest works, you really don't even need the equation.
you likely will only need the DAT genius formula but I do recommend understanding how it works.
$1,000 increases by 10% every week
Week 0: $1,000
Week 1: 1,000 + (1,000*.1) = 1,100
Week 2: 1,100 + (1,100 *.1) = 1,210
Week 3: 1,210 + (1,210 * .1) = 1,331
etc.
you likely will only need the DAT genius formula but I do recommend understanding how it works.
$1,000 increases by 10% every week
Week 0: $1,000
Week 1: 1,000 + (1,000*.1) = 1,100
Week 2: 1,100 + (1,100 *.1) = 1,210
Week 3: 1,210 + (1,210 * .1) = 1,331
etc.
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