Find the amount for the SECOND YEAR on ₹ 6000 in 2 yrs if the rate of interest is 5 % for the first year and 4 % for the second year
Answers
Answer:
1st year calculation
Calculate:
Total P+I (A)
Where: A = P(1 + r/n)^(nt)
Principal (P): $ 6,000.00
Rate (R): % annual 5
Compound (n): Compounding Annually (1/Yr)
Time (t in years): 1
Answer:
A = $ 6,300.00
A = P + I where
P (principal) = $ 6,000.00
I (interest) = $ 300.00
2nd year calculation
Calculate:
Total P+I (A)
Where: A = P(1 + r/n)^(nt)
Principal (P): $ 6,300.00
Rate (R): % annual 5
Compound (n): Compounding Annually (1/Yr)
Time (t in years): 1
Answer:
A = $ 6,615.00
A = P + I where
P (principal) = $ 6,300.00
I (interest) = $ 315.00
3rd year calculation
Calculate:
Total P+I (A)
Where: A = P(1 + r/n)^(nt)
Principal (P): $ 6,615.00
Rate (R): % annual 5
Compound (n): Compounding Annually (1/Yr)
Time (t in years): 1
Answer:
A = $ 6,945.75
A = P + I where1st year calculation
Calculate:
Total P+I (A)
Where: A = P(1 + r/n)^(nt)
Principal (P): $ 6,000.00
Rate (R): % annual 5
Compound (n): Compounding Annually (1/Yr)
Time (t in years): 1
Answer:
A = $ 6,300.00
A = P + I where
P (principal) = $ 6,000.00
I (interest) = $ 300.00
2nd year calculation
Calculate:
Total P+I (A)
Where: A = P(1 + r/n)^(nt)
Principal (P): $ 6,300.00
Rate (R): % annual 5
Compound (n): Compounding Annually (1/Yr)
Time (t in years): 1
Answer:
A = $ 6,615.00
A = P + I where
P (principal) = $ 6,300.00
I (interest) = $ 315.00
3rd year calculation
Calculate:
Total P+I (A)
Where: A = P(1 + r/n)^(nt)
Principal (P): $ 6,615.00
Rate (R): % annual 5
Compound (n): Compounding Annually (1/Yr)
Time (t in years): 1
Answer:
A = $ 6,945.75
A = P + I where
Step-by-step explanation: