calculate the interest if R 6 500 is invented for 3 years at 7,5% per annum compound interest?
Answers
Answered by
1
Total compound intrest is Rs 1574.93
naledi2043:
thanks bru
but show me how u calculate i actually want the method
search for compound intrest formula
show me how its done
Answered by
0
M=P(1+i)^n
substitute i=7.5%=7.5/100=0.075,P=6,500 and n=3
M=6,500(1+0.075)^3
=6,500(1.075)^3
=6,500(1.2422)
=8074.9
I=M-P
=8074.9-6,500
=1574.93
substitute i=7.5%=7.5/100=0.075,P=6,500 and n=3
M=6,500(1+0.075)^3
=6,500(1.075)^3
=6,500(1.2422)
=8074.9
I=M-P
=8074.9-6,500
=1574.93
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