Compound Interest | What the Equation Means, How to Use it & an Example Problem (Using iPhone Calc)

This video goes over the compound interest formula & how to use it! We will discuss what everything stands for in the formula and what it means & then look at an example of how we can use the formula and the information we are given to solve for the total amount of money with the principal. I also give a mini tutorial on how to do this using an iphone or cell phone calculator.
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