Question

find the ci on 7000 for 3 years at the rate 5 % pa ​

Answer 1

Answer:

Principal =7000, R =4%, n =2 (semiannually compounded),

t =3 years

Using the formula, we have

A=P(1+100R)n.t

⇒A=7000(1+1004)2×3

⇒A =7000×(1.04)6

⇒A =7000×1.26531902

Amount =8857.23

Compound interest = Amount − Principal

=8857.23−7000

Compound interest =1857.23

Step-by-step explanation:

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