How to calculate the compound interest and amount if interest is compounded annualy
(a)Principal=5000,time=3years and rate=12% per annum
Answers
Answered by
1
Answer:
part A) principal=5000
rate=12=12/2=6
time=3
amount =5000(1+6/100)power 3
5000(100+6/100)3
5000(106/100)3
5000x106/100x106/100x106/100
=5955.08
compound interset=amount-principal
=5955.08-5000
=955.08
part B
Step-by-step explanation:
Similar questions