Question

find the amount if 18000 is invested for 8 years at 8% p.a. compounded anually​

Answer 1

Step-by-step explanation:

Amount = p[1 + (R/100)]^T

Given :

P = 18000

R = 8%

T = 8 years

Amount = 18000[1 + (8/100)]⁸

= 18000[108/100]⁸

= (18000×108×108×108×108×108×108×108×108)/(100×100×100×100×100×100×100×100)

= 33316.74