Question

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Maria invest 93750 at 9.6 % per annum for 3 years and the interest is compounded annually.
Calculate:
(i) Amount standing to her credit at the end of the second year.
(ii) the interest for the third year.
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Answer 1

Answer:

1) 19.2 2) 28.8

Step-by-step explanation:

1) at second year = 9.6%×2 = 19.2

2) at third year = 9.6 ×3=28.8.