Question

5. Find the compound interest when
(a) Principal = 400, Rate =2%,Time = 2 years -16%
(b) Principal = 34,000, Rate = 8%,Time = 5 years 1600
(c) Principal =38,500, Rate = 17%,Time = 3 years​

Answer 1

Answer:

according to formula P=ITR.

Answer 2

Answer:

Compound interest is calculated by multiplying the initial principal amount by one plus the annual interest rate raised to the number of compound periods minus one

Step-by-step explanation: