Question: what is the formula used to find the total amount in compound interest questions?
Answer: Total = [ Compound interest for principal ] + [ Future value of a series ] Total = [ P(1+r/n)^(nt) ] + [ PMT × (((1 + r/n)^(nt) - 1) / (r/n)) ] Total = [ 5000 (1 + 0.05 / 12) ^ (12 × 10) ] + [ 100 × (((1 + 0.00416)^(12 × 10) - 1) / (0.00416)) ]