calculate the compund interest on 25000 for 2 years at 8% per annum compunded annually
Answers
Answered by
40
Step-by-step explanation:
Amount at the end of the first year $(25000 + 1500) = $26500. Principal for the second year = $26500. Interest for the second year = $26500×6×1100 = $1590.
Answered by
25
Step-by-step explanation:
SI=P×R×T/100
=25000×8×1/100
=250×8
=2000
TOTAL=25000+2000
=27000
SI=27000×8×1/100
=2160
TOTAL=27000+2160
29160
CI=A-P
=29160-25000
=4160
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