Question

B A man invests 40.000 at 4% p.a compound interest for 2 years. Calculate the
following
The interest for the first year
The interest for the second year
The amount that the man will receive after 2 years​

Answer 1

Step-by-step explanation:

Interest for 1st year= 1600

Interest for 2nd year=1664

Amount received at end of 2nd year = 43264

Answer 2

Answer:

i) 1600

ii) 1664

iii) 43264

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