Calculate the amount and compound interest on 18,000 for 3 years, if the interest is compounded annually
and the rate of interest is 5% per annum.
Answers
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0
Answer:
A
=
P
(
1
+
R
100
)
t
P = 10800, R
=
12
1
2
%
and t = 3 years
So,
A
=
10800
(
1
+
25
200
)
3
=
10800
(
1
+
1
8
)
3
=
10800
(
9
8
)
3
=
10800
×
9
8
×
9
8
×
9
8
=
15377.34
So, Interest
=
A
–
P
=
15377.54
−
10800
=
4577.34
Step-by-step explanation:
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