Madhu borrowed a sum of 24000 for 2 years at the rate of 10% p.a., interest compounded annually.
Find how much money will she have to pay to clear her debt?
Answers
Answered by
7
Answer:
29040
Step-by-step explanation:
formula for compound interest:
a = p ( 1 + r )^t (make sure r is in decimal)
24000 ( 1 + 0.1 )^2
24000 x 1.21
29040
Similar questions