Question

A principal of * 40,000 is
compound annually at the rate
of 10% for 2 years. What is the
compound interest?​

Answer 1

Step-by-step explanation:

p=40000

i=10%

n=2 year

F=p(1+i)^n

F = 40000(1.1)^2 = 48400

Compound interest = 48400-40000 = 8400

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