Calculate the amount if 18000 is invested at 15 pa compounded annually for 3 years
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Step-by-step explanation:
A = P × ( 1 + r / 100 ) ^ 3
= 18000 × ( 1 + 15 / 100) ^ 3
= 18000 × ( 23 / 20 ) ^ 3
= 18000 × 23 / 20 × 23 / 20 × 23 / 20
= 18000 × 23 × 23 ×23 / 8000
= 27375.75
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