find the compound interest on 25000 @ 12% per annum for 3 years by not using formula
Answers
Answered by
2
Answer:
A = $ 35,123.20
A = P + I where
P (principal) = $ 25,000.00
I (interest) = $ 10,123.20
Answered by
2
Answer:
interest for 1st year will be 25000*12/100=3000
principal for 2nd year p+I
25000+3000=28000
interest for 2nd year 28000*12/100
=3360
principal for 3year=P2+I2
28000+3360=31360
interest=31360*12/100=3763.20
amount=P3+I3=31360+3763.20=35123.20
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