FIND THE AMOUNT AND THE COMPOUND INTEREST ON 7400 FOR 1 YEAR AT 5% PER ANNUM, INTEREST PAYABLE YEARLY
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Answer: 44, 400
Step-by-step explanation:
A = P (1 + rt)
P = 7400
RT = rate x time = 5 x 1 = 5
A = 7400 (1+5)
A = 7400 x 6 = 44, 400
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