Find the compound interest on 62500 at 21% per annum for 1 years.
Answers
Answered by
1
Answer:
13125 for 1 year CI = 1 year SI
Answered by
1
Step-by-step explanation:
A = p(1+r)ⁿ
r = 21% = 0.21
n =1
A = 62500(1+.21)¹ = 62500×1.21 = 75,625
ci = A-p = 75625-62500 = 13, 125
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