Question

Calculate the amount and compound interest on
1
(a) * 10,800 for 3 years at 12 1/2 per annum compounded annually.​
with image

Answer 1

Answer:

A = 15377.34

Step-by-step explanation:

A = P[1 + R/100]^t

12 1/2 (mixed fraction) = (2*12 + 1) 25/2

you can also write it like 12.5 or 125/10

A = 10,800[ 1 + 25/100×2]³

A = 10,800[ 1 + 1/8]³

A = 10,800 × 9/8 × 9/8 × 9/8

A = 1350 × 9 × 1.125 × 1.125

A = 15377.34