Question

the compound interest on 10000 at 12% per annum for 3/2 years, compounded annually, is:

ANSWER IS= 1872

PLEASE EXPLAIN STEP BY STEP
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Answer 1

Answer:

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Answer 2

Answer:

compound interest=principal ×(1+Rate/100)time as power

=10000×(1+12/100)3/2 as power

=10000×(112/100) 3/2as power

to solve time we multiply 112/100 by 3/2

so answer of multiply is 42/25

now multiply it by 10000

so the answer is 1848