Question

16. A sum of money put at 11% per annum amounts to 4491 in 2 years 3 months. What will it
amount to in 3 years at the same rate?
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Answer 1

Answer:

$5613.75$

Step-by-step explanation:

$4491 \times 11\% = 494.01 \\ 2.3 \div 12 = 2.25 \\ 4491 \times 2.25 = 10104.75 \\ 10104.75 - 4491 = - 5613.75$