* 148.32.
I compound interest on a sum of 3 8000 at 10% per annum for 5 years,
compounded annually.
Find the compound interest on a sum of 2 8000 at 10% per annum for 3 years.
Answers
Answered by
2
Answer:
39337.98
Step-by-step explanation:
The formula for calculating compound interest is given below
A = P (1 + r/n) (nt)
Data given:
.P= 28000
r= 12%
n= 1
t= 3
By putting these values in the above formula we will get the answer
A=28000(1+0.12/1)^1*3
=39337.98
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