Question

principal is 7000 rate is 10 percent and time is 3 years find compound interest
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Answer 1

Answer:

Step-by-step explanation:

Compound intrest = CI = p(1 + i)ⁿ

P = 7,000

I = 10/100 = 0.1

T= 3

CI = 7,000(1+0.1)³

CI = 7,000 × (1.1)³

CI = 7,000 × 1.331

CI = 9,317

I = 9,317 - 7,000 = 2,317