Question

find the amount if P=8000 R=10% duration=2years​

Answer 1

Answer:

9680

Step-by-step explanation:

The formula for compound interest is

 P (1 + r/n)^(nt)

where

P is the initial principal balance

r is the interest rate,

n is the number of times interest is compounded per time period

and

t is the number of time periods

A=8000(1+10/100)²

= 8000×1.21

= 9680

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