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