Question

find the amount and compound interest on 2000 for 2 years at the rate of 8 percent per annum, when the interest is compounded annually​

Answer 1

Answer:

Step-by-step explanation:

Interest for first year=8% of 2000

                               =8/100 x2000

                                =160

SO New principal after 1st year =2000+160=2160

Interest for second year = 8/100 x 2160

                                       = 172.8

So New principal after 2nd year=2160+172.8=2332.8