Question

A sum of money was invested for 3 years, interest being compounded annually. The rates
for successive years were 10%, 15% and 18%
respectively. If the compound interest for the
second year amounted to 4,950, find the
sum invested.​

Answer 1

Answer:

4950

Step-by-step explanation:

sum of money was invested for 3 years, interest being compounded annually. The rates

for successive years were 10%, 15% and 18%

respectively. If the compound interest for the

second year amounted to 4,950, find the

sum invested.