FinanceFormulas(1).pdf - Personal Finance Formulas Simple...

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Personal Finance FormulasSimple Interest Formulas:Maybeusedforsimpleinterestsavings or loans.I=PrtA=P+Prt=P(1 +rt)Compound Interest Formula:May be used for savings or loansAlumpsumpaymentisinvolved(present value).A=P1 +rnnt.Savings Formulas(used for annuities.)Periodic Payments involvedMay be used for savings (not for loans)Use this formula to find the total amountyou will save given a periodic paymentP.A=P(1 +rn)nt-1rnUse this formula to find the periodic pay-ment to save a desired amount.P=Arn(1 +rn)nt

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