Question

amount will he get on maturity?
5. Michael borrowed Rs 16000 from a finance company at 10% per annum, compounded hal-
amount of money will discharge his debt after 1-years?
Calculating compound interest by using formulae​

Answer 1

Answer:

17600

Step-by-step explanation:

Formula

p*(1+n/100)^t

P=primary number

n=rate of annum/ interest rate

t=time/years