Question

Rinku invests 36,500 at 8% per annum compound interest for 4 years. Calculate:
a) the compound interest for second year.
b) the amount at the end of the fourth year.​

Answer 1

Answer:

a) 36500×108/100*108/100

42573.6

42573.6-36500=6073.6

b)42573.6×108*100*108/100

=49657.84