find the compound interest on 250000 for 3 years at 8% per annum, compounded annually
Answers
Answered by
0
The compound interest is 60000
Answered by
1
Compound int = Amount - Principal
here
Principal 250000
Time 3yrs
Rate 8%
Amt = P(1+R/100)^T
= 250000(1+0.08)^3
= 314928
Now Compound Interest
314928 - 250000 = 64928
hope it helps
#jerri
here
Principal 250000
Time 3yrs
Rate 8%
Amt = P(1+R/100)^T
= 250000(1+0.08)^3
= 314928
Now Compound Interest
314928 - 250000 = 64928
hope it helps
#jerri
Similar questions