| http://www.w3.org/ns/prov#value | - While simple interest is calculated as P*T*R/100 (P is the principal, T is the time period, R is the rate of interest), compound interest uses a different formula, A[1 - 0.01 r]^n - P (A is the amount, r is the rate of interest for the period, n is the number of such periods and P is the principal), to ensure that the interest earned is added back to the principal and thus, earn a higher amount of
|
