Shania invest 750 as an interest of 2.5% per year. 4
a) Calculate simple interest for 5 years.
b) Calculate compound interest for 5 years.
pls i need the answer
Answers
Answered by
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Step-by-step explanation:
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Answered by
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Answer:
(i) rs.93.75
(ii) rs.98.55
Step-by-step explanation:
(i) SI= principal*rate*time/100
given
principal= rs. 750
rate= 2.5%
time =5years
SIMPLE INTEREST =
750*2.5*5/100
= rs. 93.75
(ii)Amount= principal*(1+rate/100)^time
principal = 750
time = 5 years
rate = 2.5
750*(1+2.5/100)^5
750*(102.5/100)*(102.5/100)*(102.5/100)*(102.5/100)*(102.5/100)=
750*1.025*1.025*1.025*1.025*1.025=
rs.848.55
compound interest= amount-principal
848.55 -750 =
rs.98.55 ans.
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