Question

Principle =$4000, rate =6%, time=3year find compound interest

Answer 1

• Principle = $4000
• Rate = 6%
• Time = 3 years.

Amount = P[1+r/100]ⁿ

              = $4000 [ 1+6/100]³

               = $4000 [ 53/50]³

                = $ 4000 x 148877/125000

                 = $4764.064

CI = P - A  = 4764.064 - 4000 = $764.064

Thank u.

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Answer 2

Principle Amount=$4000
Rate=6%
Time=3 years

Amount after 3 year
=p(1+r/100)^time
=4000(1+6/100)³
=4000(106/100)³
=4000×106/100×106/100×106/100
=$4764.06

Compound Interest=Amount-principle
Compound Interest=4764.06-4000
CI=$764.06