a man deposits rs 6800 in a company which pays 10/1//2% per annum. find the amount he would get at the end of 9 momths
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Answer:
Calculate:
Total P+I (A)
Where: A = P(1 + r/n)^(nt)
Principal (P): $ 6,800.00
Rate (R): % annual 10.5
Compound (n): Compounding Annually (1/Yr)
Time (t in years): 0.75
Answer:
A = $ 7,328.76
A = $ 7,328.76A = P + I where
A = $ 7,328.76A = P + I whereP (principal) = $ 6,800.00
A = $ 7,328.76A = P + I whereP (principal) = $ 6,800.00I (interest) = $ 528.76
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