Applying compound interest to find the final value of a deposit over the years

The video tutorial explains how to calculate compound interest for an initial amount of $12,000 with an 8% annual interest rate compounded biweekly over 50 years. It introduces the compound interest formula, discusses the importance of compounding frequency, and provides a detailed step-by-step calculation. The tutorial also emphasizes the significance of rounding and accuracy in calculations.

What formula is used to calculate the final amount (A) in compound interest?

What is the significance of the constant E in continuous compounding?

How many times is the interest compounded per year (N) in this scenario?

What is the annual interest rate (R) in decimal form?

What is the initial amount (P) in the compound interest formula discussed?

What is the total duration (T) in years for the investment?

What is the final amount calculated after 50 years?