28. Calculate the amount for Rs 10.000 for 2year at 10% per annum compounded annually.
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Answer:
Calculate:
Total P+I (A)
Where: A = P(1 + r/n)^(nt)
Principal (P): $ 10,000.00
Rate (R): % annual 10
Compound (n): Compounding Annually (1/Yr)
Time (t in years): 2
Answer:
A = $ 12,100.00
A = $ 12,100.00A = P + I where
A = $ 12,100.00A = P + I whereP (principal) = $ 10,000.00
A = $ 12,100.00A = P + I whereP (principal) = $ 10,000.00I (interest) = $ 2,100.00
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