Question

Find the compound interest of 8,000 at 4%p.a. for 3years

Answer 1

hey there....

here is ur answer......

the formula for compounded interest is
$p {(1 + \frac{r}{100} )}^{n}$

P is the principle
R is the rate
N is the term

so if we substitute we get...

$8000 {(1 + \frac{4}{100}) }^{3}$

$1 + \frac{4}{100} = \frac{104}{100}$

so...


$8000( { \frac{104}{100}) }^{3}$

this will be

$8000 \times \frac{ {104}^{3} }{1000000}$

if we cancel them out we get,

$\frac{ {104}^{3} }{12500}$

$\frac{1124864}{12500}$


$89.98 \: is \: the \: simple \: intrest$


avg. is 90

hope this helps!

Merry Christmas