find compound interest on 5000 for 7 years at 3%per annum componded annually
Answers
Answered by
1
Answer:
C.I = 1149.365
Hope it will help you
Attachments:
manjunpai2000:
1.229873
the anwer is not coming the same my answer is coming 7.21 if you multiply it with 1.03
dear it's not multiplying 1.03 × 7
then ?
multiply 1.03×1.03×.....
7 times
ohhhhhh i got got it thankkkkkk youuu verryyyyyyy muchhhhhhhh
welcome
after the answer is 0.22873 then what ?
multiply by 5000
Answered by
1
Answer:
C.I = 1150
Step-by-step explanation:
C.I = p [ ( 1+ R/100) ^ n - 1 ]
= 5000[ ( 1 + 3/100)^3 - 1 ]
= 5000 [ (103/100)^3-1]
= 5000* (1.03)^3 - 5000
= 5000* 1.23 - 5000
= 6150 - 5000
= 1150 ( Ans )
n is not 3 its 7
sorry for my mistake but ans is correct or not
answer is almost right
Thanks for seeing me my mistake
yeah it's fine
the answer is 6149 but thanks you very mush helped me alot
yeah
5000+1149=6149
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