Question

Mr. Mehta invested 8,000 every year at the
beginning of the year, at 10% per annum
compound interest. Calculate his total savings
at the beginning of the third year.
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Answer 1

Answer:

Mehta invested R 8,000 every year at the beginning of the year, at 10% per annum compound interest. Calculate his total savings at the beginning of the third year. =80⋅21+800⋅11=18480.