Question

find c.i
if p = 1000 n = 4 R = 5%​

Answer 1

Answer:

CI = 215.5

Step-by-step explanation:

Given:

Principle = p = 1,000

Time = 4 yrs

Rate = r = 5%

To find:

Compound intrest

Formula used:

$CI = p[(1+i)^n-1]$

Solution:

$CI = 1,000[(1+0.05)^4-1]$

$CI = 1,000[(1.05)^4-1]$

$[(1.05)^4-1] = 0.2155$

$CI = 1,000(0.2155)$

CI = 215.5