I'm developing a Unity Game and I want to calculate below thing fast.
4, 4.28, 4.58, 4.90
Next number is 7% addition to the earlier number. 4 * 7 / 100 + 4 = 4.28;
4.9 - 4.58 = .32; 4.58 - 4.28 = .30; 4.28 - 4 = .28;
Amount formula can me used to find number to nth term. Like below calculated to 3rd & 4th term.
A = P(1 + r)^t
4(1+0.07)^2 = 4.58; 4(1+0.07)^3 = 4.90;
I want a formula to calculate sum of compound interests to 10th term. The formula that'll calculate 7% of the earlier number and add it to next number till 10 times.
Thanks.
You're looking for the formula $$k\frac{r^n-1}{r-1}$$ where $r = 1.07$ in this case and $k=4$.