Question

2. A person borrowed 7500 at 16% per annum compound interest. What is the amount of compound
interest he has to pay at the end of 2 years to clear the loan?
3. How much will 325,000 amount to in 2 years if the rates for successive years be 4% per annum and 5%
per annum respectively?


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Answer 1

Answer:

2. a = p(1+r/100) ^n

a = 7500(1+16/100) ^2

a= 7500(27/25) (27/25)

a = 12×27×27

a= 8748

C. I = A-P

8748 - 7500

1248

Answer 2

Answer:

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Step-by-step explanation:

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