Question

Find the amount and compound interest on a sum of 18000 at 6% per annum for 3 years compounded annually.​

Answer 1

answer is 3,438.288

Step-by-step explanation:

P = 18000 , R = 6% , T = 3year

step - 1

C.I. of 3 years = 3:3:1

step - 2

18000*6% = 1,080

1080*6% = 64.8

64.8*6% = 3.888

step - 3

1080*3 = 3,240

64.8*3 = 194.4

3.888*1 = 3.888

Total = 3,438.288