Rinku invests 36,500 at 8% per annum compound interest for 4 years. Calculate: compound interest for second year
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Prinicipal = 36500
Rate = 8%
Time = 4 n
Compound interest = A = p (1+r÷100)
36500 ( 1+8÷100)
36500 (108÷100)
36500 (54÷50)
36500×54÷50×54÷50
73×54×54÷5
=18573.6 ans
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