Find the amount and compounded interest on 2500 for 2years compounded annually the rate of interest being 6% during the first year and 8% during the second year
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Answer:2862
Step-by-step explanation= A=p(1+rate/100)^time
A=2500(1+6/100)×(1+8/100)
A=2500(106/100)×(108/100)
A=2500x1.06×1.08
A=2862
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