Question

compound interest on $8000 at 10% per annum compound annually for one year is​

Answer 1

P=$8000

R=10%

N=1 year

$A = P (1 + \frac{R}{100} )^{N} \\ A = 8000(1 + \frac{10}{100} )^{1} \\ A = 8000 \times \frac{110}{100} \\ a = 8800 \\ CI = A - P \\ CI = 8800 - 8000 = 800$