on what sum of money will the compound interest for 2 years at 5 percent per annum amount to 768.75
Answers
Answered by
6
Answer:
7500
Step-by-step explanation:
int=A-P
=P[1+(r/100)]^n-P
so
768.75=P[1+0.05]^2-P
=P(1.05^2)-P
=P*1.1025-P
=P(1.1025-1)
=0.1025*P
so P=768.75/0.1025
=7500
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