anita borrowed 5000 from bank for 2 years at 10% per annum compounded annually calculate the amount she has to return the bank at the end of 2 years
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Answered by
1
Answer:
12% = 3/25
25 units => 5000 => 1 unit = 200
A after 1 yr=28 units = 28×200 = 5600
rate for next 1/2 yr = 12/2 = 6%
A after 1 1/2 yr = 5600 + 6/100*5600
= 5936
Answered by
7
Correct Answer
Amount she borrowed (P) = 5000
Time (T) = 2 years
Rate of interest = 10% p.a. compounded annually.
Amount ( A ) = P x ( 1 + R/100 )^T
A = 5000 x ( 1 + 10/100 ) ^2
A = 5000 x ( 1 + 1/10 )^2
A = 5000 x ( 10 + 1/10)^2
A = 5000 x (11/10)^2
A = 5000 x 11/10 x 11/10
A = 6050
The amount Anita has to return by the end of 2 year is 6050
This is the correct answer. I am a maths teacher.
Amount she borrowed (P) = 5000
Time (T) = 2 years
Rate of interest = 10% p.a. compounded annually.
Amount ( A ) = P x ( 1 + R/100 )^T
A = 5000 x ( 1 + 10/100 ) ^2
A = 5000 x ( 1 + 1/10 )^2
A = 5000 x ( 10 + 1/10)^2
A = 5000 x (11/10)^2
A = 5000 x 11/10 x 11/10
A = 6050
The amount Anita has to return by the end of 2 year is 6050
This is the correct answer. I am a maths teacher.
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