Question

calculate the amount and compound interest on 6000 in 3 years at 5% per year​

Answer 1

Answer:

Amount :- 6945.75

compound Interest in :- 945.75

Step-by-step explanation:

Principal = 6000

Rate = 5%

Time = 3 years..

amount = principal * (1 + rate / 100)^time

here, amount =

6000 * (1 + 5/100)^3

= 6000 * (105/100) ^3

= 6000*105 / 100 *105 / 100 *105 /100

= 6000 * 1.05 * 1.05 * 1.05

= 6945.75

Compound Interest = Amount - principal

compound interest = 6945.75 - 6000

= 945.75