Question

at what rate per annum will 5120 amount to 7290 in 3 years compounded anually. ​

Answer 1

Step-by-step explanation:

7290 = 5120× (100+r) ^3

(100) ^3

7290 = (100+r) ^3

5120 (100) ^3

( 9)^3 = (100+r) ^3

( 8) ^3 (100)^3

9 = 100+r

8 100

9 ×100 =100+r

8

112.5 =100+r

112.5 - 100 = r

r = 12.5%