A man saved #48000 with a cooperative society at 4% interest rate for 3 years . How much more money will he have in hia account from Compound interest than from Simple Interest. It is compounded semi-annually (half yearly)
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Answer:
2465
Step-by-step explanation:
principal=s.i×100÷rate×time
=400000
A=p×(1+2÷100)6
50464.96
c.i=A-p=6464.96
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