Question

find the compound interest on $8000for 2 years 3months at 10percent p.a​

Answer 1

Answer:

880

Step-by-step explanation:

We know that,

A=P(1+r/100)^n

CI for second year=Amount after 2 years -P-Interest of first year=8000(1+10/100)^2-8000-8000×10×1/1

=8000(11/10)^2-8000-800=880