Question

A man invests 650 for 3 years at 9% per
annum. Calculate the:
(i) interest for the first year;
(ii) amount at the end of the second year,
(iii) compound interest in 3 years.​

Answer 1

Step-by-step explanation:

(I)Interest for the first year=54

(ii)amount at the end of second year=

108

(iii)compound interest in 3 years=162