Question

Johannes decided to invest 1000.00 for Three years at 10% p.a. compound interest i) Calculate the compound interest for Three years. ii)Calculate how much more he would receive when the money is invested at compound interest calculations pleasee

Answer 1

Answer:

Principal = 1000

Time = 3 years

Rate = 10%

Amount(A) = P(1 + R/n)ⁿ^t

                 = 1000(1 + 10/100)³

                  = 1000(1 + 1/10)³

                 = 1000(10+1/10)³

                  = 1000(11/10)³

                 = 1000 X 1331/1000

                  = 1331

So, i.  C.I. = A - P = 1331 - 1000

                        = 331

Step-by-step explanation:

Hope it helps :)