Maria invested 80000 in the business should be paid interest at 5 % per annum compounded annually find the amount standing to be credited at the end of second year and the interest for the third year
Answers
Answered by
2
P=80000
R=5%
INTEREST FOR FIRST YEAR =80000*5*1%100
I=4000
PRINCIPAL FOR SECOND YEAR=80000+4000=84000
INTEREST FOR SECOND YEAR =84000*5*1%100=4200
AMOUNT OF SECOND YEAR =PRINCIPAL OF THIRD YEAR
SO PRINCIPAL FOR THIRD YEAR=84000+4200=88200
INTEREST FOR THIRD YEAR=88200*5*1%100
=4410
R=5%
INTEREST FOR FIRST YEAR =80000*5*1%100
I=4000
PRINCIPAL FOR SECOND YEAR=80000+4000=84000
INTEREST FOR SECOND YEAR =84000*5*1%100=4200
AMOUNT OF SECOND YEAR =PRINCIPAL OF THIRD YEAR
SO PRINCIPAL FOR THIRD YEAR=84000+4200=88200
INTEREST FOR THIRD YEAR=88200*5*1%100
=4410
Similar questions