Find the amount and the compound interest on $12000 in 3 years at 5% interest being compounded anually
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principal=$12000
time=3yers
rate=5%
simple intrest=$12000×1× 5÷100
=120×5=6000
hence $6000 is added to principal to get interest
=12000+6000=18000
time=3yers
rate=5%
simple intrest=$12000×1× 5÷100
=120×5=6000
hence $6000 is added to principal to get interest
=12000+6000=18000
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