Question

on what sum will the compound interest at 15 by 2% per annum for 3 years compounded annually be 3101 .40​

Answer 1

Answer:

Note: ∧ means raise to power.

Formula for Compound Interest:

Interest = Principal (1 + r/100)∧T - Principal

3101.40 = Principal (1 + 7.5/100)∧3 - Principal

3101.40 = Principal (1.242296875) - Principal

Principal = 3101.40 / 0.242296875

Principal = 12800

So, if someone invests 12800 for 3 years at 7.5% (15/2 %) compounded annually, he/she will receive 3101.40 as interest after 3 years.

hope this helps you

Answer 2

Answer:

Note: ∧ means raise to power.

Formula for Compound Interest:

Interest = Principal (1 + r/100)∧T - Principal

3101.40 = Principal (1 + 7.5/100)∧3 - Principal

3101.40 = Principal (1.242296875) - Principal

Principal = 3101.40 / 0.242296875

Principal = 12800

So, if someone invests 12800 for 3 years at 7.5% (15/2 %) compounded annually, he/she will receive 3101.40 as interest after 3 years.

hope this helps you

Answer 3

Answer:

Note: ∧ means raise to power.

Formula for Compound Interest:

Interest = Principal (1 + r/100)∧T - Principal

3101.40 = Principal (1 + 7.5/100)∧3 - Principal

3101.40 = Principal (1.242296875) - Principal

Principal = 3101.40 / 0.242296875

Principal = 12800

So, if someone invests 12800 for 3 years at 7.5% (15/2 %) compounded annually, he/she will receive 3101.40 as interest after 3 years.

hope this helps you

Answer 4

Answer:

Note: ∧ means raise to power.

Formula for Compound Interest:

Interest = Principal (1 + r/100)∧T - Principal

3101.40 = Principal (1 + 7.5/100)∧3 - Principal

3101.40 = Principal (1.242296875) - Principal

Principal = 3101.40 / 0.242296875

Principal = 12800

So, if someone invests 12800 for 3 years at 7.5% (15/2 %) compounded annually, he/she will receive 3101.40 as interest after 3 years.

hope this helps you

Answer 5

Answer:

Note: ∧ means raise to power.

Formula for Compound Interest:

Interest = Principal (1 + r/100)∧T - Principal

3101.40 = Principal (1 + 7.5/100)∧3 - Principal

3101.40 = Principal (1.242296875) - Principal

Principal = 3101.40 / 0.242296875

Principal = 12800

So, if someone invests 12800 for 3 years at 7.5% (15/2 %) compounded annually, he/she will receive 3101.40 as interest after 3 years.

hope this helps you

Answer 6

Answer:

Note: ∧ means raise to power.

Formula for Compound Interest:

Interest = Principal (1 + r/100)∧T - Principal

3101.40 = Principal (1 + 7.5/100)∧3 - Principal

3101.40 = Principal (1.242296875) - Principal

Principal = 3101.40 / 0.242296875

Principal = 12800

So, if someone invests 12800 for 3 years at 7.5% (15/2 %) compounded annually, he/she will receive 3101.40 as interest after 3 years.

hope this helps you