Question

Find compound interest paid when a sum of 10,000 is invested for 1 year and 3 months at 8 1/2% per annum compounded annually

Answer 1

Answer:

5678

Step-by-step explanation:

S=p(1+I)^n

S =10000(1+.085)^1.25

S=10000(1.104)

S=11040

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