Math, asked by Manank22, 4 months ago

Find the amount if 32,000 is invested for 2 years at 4% p.a compounded annually

Answers

Answered by AllenGPhilip

7

Answer:

Step-by-step explanation:

Principle = 32,000

Rate of interest = 4

Time = 2

Amt = p( 1 + r/100)ⁿ

Amt = 32,000( 1 + 0.04)²

Amt = 32,000(1.04)²

Amt = 32,000 * 1.0816

Amt = 34,611.2

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