a man invests ksh 10000 in an account that pays 16% interest per year.The interest is compounded quarterly earned after 1 and a half years to the nearest shillings
Answers
Answered by
0
Step-by-step explanation:
A=p(1+r/100)
n=6r=4%p=10000
A=10000(1+4/100)6is the power
= 10000(1.04)6 is the power
= 12653.19
interest=12653-10000
= 2653 (this is the answer)
Similar questions