Question

Find the compound interest on $25000at the rate of 12%per annum for three years

Answer 1

Answer:

Principal (P) = 25000

Rate (R) = 12%

Time (t) = 3 years

Compound Interest = P [ (1+R/100)^t - 1]

25000 [ ( 1+12/100)^3 - 1]

25000 [ (28/25)^3 - 1]

25000 [ (21952/15625) - 1]

25000 × 6327/15625

= 10123.2

Hope this helps u..

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