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    £50,000 over 25 months @ a compound interest rate of 0.7535% per month.

    Do I simply work what 0.75% is of £50,000 then multiply by 25?

    How does compound interest work?

    Tom <[email protected]> wrote in uk.education.maths:
    [q1]>£50,000 over 25 months @ a compound interest rate of 0.7535% per month.[/q1]
    [q1]>[/q1]
    [q1]>Do I simply work what 0.75% is of £50,000 then multiply by 25?[/q1]
    [q1]>[/q1]
    [q1]>How does compound interest work?[/q1]

    Please don't post the same query multiple times.

    You can find formulas and explanations of compound interest on my Web page:
    http://oakroadsystems.com/math/loan.htm

    --
    Stan Brown, Oak Road Systems, Cortland County, New York, USA http://oakroadsystems.com/ "What in
    heaven's name brought you to Casablanca?" "My health. I came to Casablanca for the waters." "The
    waters? What waters? We're in the desert." "I was misinformed."
 
 
 
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