The compound interest o Rs/- 5000 at 8% per annum for one year compounded annually is
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Answer:
Calculate:
Total P+I (A)
Where: A = P(1 + r/n)^(nt)
Principal (P): $ 5,000.00
Rate (R): % annual 8
Compound (n): Compounding Annually (1/Yr)
Time (t in years): 1
Answer:
A = $ 5,400.00
A = $ 5,400.00A = P + I where
A = $ 5,400.00A = P + I whereP (principal) = $ 5,000.00
A = $ 5,400.00A = P + I whereP (principal) = $ 5,000.00I (interest) = $ 400.00
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