find the compound interest on 8500 for 2 years at 8% per annum
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hope this is correct and would help you.
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a=p(1+r÷100)^n
=8500(1+8/100)^2
=8500(27/25*27/25)=9914.4
ci=A-p=9914.4-8500=1414.4
=8500(1+8/100)^2
=8500(27/25*27/25)=9914.4
ci=A-p=9914.4-8500=1414.4
SouravDevSahu:
sorry but this is wrong formula for CI is P[(1+r/100)^n-1]
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