Find the amount and compound interest on 8000 at 5% per annum for 2 years compounded
annually.
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a=8820
ci=820
Step-by-step explanation:
r=5%
p=8000
t=2
a= p(1+r/100)^t
a=8000(1+5/100)^2
a=8000 × 21/20×21/20
a=8820
ci=a-p
ci=8820-8000
ci=820
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