Question

Find the amount and compound interest compounded annually in each of the following cases.
principal = 16000 Rate= 5% p.a. Time= 4 years​

Answer 1

Answer:

principal 16000

rate 5%

time 4 year

Step-by-step explanation:

$16000 \times {1 + 5 \div 100}^{4} \\ 16000 \times ( {1 + 1 \div 20)}^{4} \\ \\ 16000 \times ( {21 \div 20)}^{4} \\ 16000 \times \frac{21}{20} x \frac{21}{20} x \frac{21}{20} x \frac{21}{20} \\ 0.1 \times 21 \times 21 \times 21 \times 21 \\ 19448.1 \\ 19448.1 - 16000 = 3448.1$