Find the compound interest on 203500 for 4 years at 2 1/2 to the nearest naira
Answers
Answered by
0
Step-by-step explanation:
Question seems to have some missing data
Rate of interest
Compounding interval
Taking RoI as 2.5 % and compounded yearly we have
A = P(1+(R/100))^N
= 20353500(1+.025)^4
= 203500(1.025)^4
= 203500(1.104)
= 224664
So compound interest = A -P
= 21164
1(.104)
Similar questions