Maria invests 93,750 at 9.6% per annum for 3 years and the interest is com
compounded annually,
Calculate:(b) the interest for the third year.
It is compound interest question.
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Answered by
55
Answer:
1year
P=93750
R=9.6%
T=1year
SI=PRT/100
SI=9000
2year
P=102750
R=9.6%
T=1year
SI=PRT/100
=9864
3year
P=112615
R=9.6%
T=1year
SI=PRT/100
=112614×9.6×1
=10810
Answered by
1
This is correct
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