Question

1000$ at 5% intrest rate per year for 7 years find compound interest​

Answer 1

Answer:

Compound interest:

A=P(1+

100

r

)t

Given:Principal=Rs2000

r=5

t=2

A=2000(1+

100

5

)×2

A=2000×

100

105

×2

A=Rs.4,200‬