find the amount and the compound interest on 6500 for 2 years compounded annually the rate of interest being 5% per annum during the first year and 6% per annum during the second year
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Step-by-step explanation:
for 1st year
6500×1×5÷100
=325
amount=6500+325
=6825
for 2nd year
6825×1×6÷100
=409.50
amount=6825+409.50
=7234.50
compound interest= 7234.50-6500
=734.50
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