At what rate percent per annum will $810 amount to $980.10 in 2 years,when interest is compounded annually?
Answers
Answered by
85
A=P (1+R/100)n
980.10=810 (1+r/100)2
98010/81000=(1+r/100)2
(99/90)2=(1+r/100)2
99/90=1+r/100
11/10=1+r/100
11/10-1=r/100
1/10=r/100
R=10%
980.10=810 (1+r/100)2
98010/81000=(1+r/100)2
(99/90)2=(1+r/100)2
99/90=1+r/100
11/10=1+r/100
11/10-1=r/100
1/10=r/100
R=10%
Answered by
16
Answer:
rate is 10%
Step-by-step explanation:
just see my attachment
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