Question

Calculate compound interest for second year on 8000 invested for 3 year at 10 percent annum

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Answer 1

Answer:

880

Step-by-step explanation:

For First Year

(8000 × 10 × 1) ÷ 100

= 800

Amount = 8000 + 800 = 8800

For Second year

(8800 × 10 × 1) ÷ 100

= 880