Question

2. Find the amount for the following, when it is given that the principal is compounded annually: (i) Principal = 14,000, rate = 3% p.a. and time = 2 years 4 months (ii) Principal = 16,000, rate = 2.5% p.a. and time = 3 years 9 months (iii) Principal = 62,500, rate = 8% p.a. and time = 2 years 3 months ​

Answer 1

(i) 12992.0 (ii) 40 (iii) 51000

Answer 2

Answer:

i.15001.13 ii.17553.32 iii.74358