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?

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

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

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

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

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

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What is the final amount calculated after 50 years?

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