find the difference between the simple interest and compound interest on 5000 for 3 years at 5% per annum compounded interest being reckoned annually
this is maths pls ans this question
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Answers
Answered by
2
Step-by-step explanation:
P= 5000; r = 5%; t = 3 yes
Compound interest:
A = P( 1 + r/100)^n
= 5000( 1 + 5/100)^3
= 5000(105/100)^3
= 5000 × 1.157625
= 5,788.125
Simple interest:
A = P(1+rt/100)
= 5000(1 + (5 × 3)/100)
= 5000(115/100)
= 5000 × 1.15
= 5750
Difference between CI and SI =
5788.125 - 5750
= 38.125
Answered by
0
Answer:
Difference= 38.125
Step-by-step explanation:
it's correct answer
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