calculate compound interest and amount on -
$18000 for 2 1/2 years at 10% per annum compounded annually
Answers
Answered by
2
Answer:
Amount= 22843.1
Interest= 4843
Step-by-step explanation:
Amount= P(1+r/100)^T
=18000(1+10/100)^2.5
=22843.1
Interest= 22843.1-18000
=4843
Answered by
10
Step-by-step explanation:
amount=p(1+r/100)^t
=18000(1+10/100)^2
=18000(11/10×11/10)
=180×121
=21780
we know that the compound interest and simple interest for 1 or less than one year is same...
SI=21780×1×10/200
=1089
total amount=21780+1089
=22869
CI=A-P
=22869-18000
=4689
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