how much compound interest is earned by investing 20,000 for 6 years at5%perannum compounded annually
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4
here is your answer mark me as brainliest
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javid45:
I don't understand division please repeat clearly division
i have done the division directly
ok thank you
Answered by
3
Principal Amount =P= 20000
No.of periods= n = 6 years
Rate of interest Per Annum= i =5%
Compound interest = P((1+i)^n-1)
= 20000((1+5/100)^6-1)
=20000((1 +0.05)^6-1)
=20000(1.34)- 1)
=20000(0.34)
=6800(Approx)
=2646
No.of periods= n = 6 years
Rate of interest Per Annum= i =5%
Compound interest = P((1+i)^n-1)
= 20000((1+5/100)^6-1)
=20000((1 +0.05)^6-1)
=20000(1.34)- 1)
=20000(0.34)
=6800(Approx)
=2646
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