find the compound interest when p=3,500 r=10% t=3year
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Given,
= P=3500
= r =10%
= t =3 years
Solution,
=CI = Amount - Principal
(To find the compound interest we have to find the amount first)
Amount = P(1+r)^t
= 3500 (1+10/100)^3
= 3500 (110/100)^3
= 3500*1.331
= 4658.5
CI = Amount-principal
= 4658.5 - 3500
= 1158.5
= P=3500
= r =10%
= t =3 years
Solution,
=CI = Amount - Principal
(To find the compound interest we have to find the amount first)
Amount = P(1+r)^t
= 3500 (1+10/100)^3
= 3500 (110/100)^3
= 3500*1.331
= 4658.5
CI = Amount-principal
= 4658.5 - 3500
= 1158.5
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