complete the compound interest on 8000 for 2 years at 15/2% quarterly
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principal = 8000
rate = 15/2%
time 2 years
compounded quarterly
rate= 15/8
time= 4×2= 8 year
amount = p [1+r/100]^n
amount = 8000 [1+15/800]^8
amount = 8000×43/40×43/40×43/40×43/40×43/40
×43/40×43/40×43/40
amount = 68800
interest = amount -principal
compound interest = 68800-8000
= 60800
hope it helps you
Rahul AryanRahulAryan
rate = 15/2%
time 2 years
compounded quarterly
rate= 15/8
time= 4×2= 8 year
amount = p [1+r/100]^n
amount = 8000 [1+15/800]^8
amount = 8000×43/40×43/40×43/40×43/40×43/40
×43/40×43/40×43/40
amount = 68800
interest = amount -principal
compound interest = 68800-8000
= 60800
hope it helps you
Rahul AryanRahulAryan
Rishabraunak:
it is the wrong solve and answer
Answered by
0
answer is 60800..
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