Understanding Simple and Compound Interest Calculation in R: A Comprehensive Guide
QUESTION Please teach me how to answer the following question: There are two primary types of interest: simple and compound. To start, let’s create four variables, S = 100 (initial investment), i1=.02 (annual simple interest), i2=.015 (annual compound interest), n=2 (years that the investment will last). Simple interest: Define a variable called simple equal to S (1 + i1 * n). Compound interest: Define a variable […]
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