Complete the table Principle (P) = 270 Rate p.a.(R) = 9% time ( t ) = 2 year interest = ? amount = ?
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1
Answer:
Each year, you would earn 5% interest: $1000(0.05) = $50 in interest. So over the course of five years, you would earn a total of $250 in interest. When the bond matures, you would receive back the $1,000 you originally paid, leaving you with a total of $1,250.
Answered by
1
Answer:
Compound interest = P(1+R/100)^T-P
Where P (Principle) = 5000
R(Rate of interest)= 10
T(Time) = 2
Putting the values
CI= 5000*(1+10/100)^2–5000
= 5000*110/100*110/100 -5000
= 50*11*11–5000
= 6050–5000
=1050
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