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For the formula A=A0(1+r/k)^(kt) does it only work if t is in years and k is how many times per year it is compounded?
No, I believe that r and k and t could be defined in terms of some different time interval, but I have only ever seen this formula used when the basic time interval is the year. The units of r are typically in terms of the interest in a year, k is usually the number of interest computing periods per year, and t is the number of years.For the formula A=A0(1+r/k)^(kt) does it only work if t is in years and k is how many times per year it is compounded?
For the formula A=A0(1+r/k)^(kt) does it only work if t is in years and k is how many times per year it is compounded?