Question

use a formula A = P(1+r/100) to calculate the compound interest at 7,5% per annum on a loan of R5600 for 4 years ​

Answer 1

$5600 {(1 + \frac{7.5}{100} )}^{4} \\ \\ = > 5600 {(1 + \frac{3}{40} )}^{4} \\ \\ = > 5600 {( \frac{43}{40} )}^{4} \\ \\ = > 5600 \times \frac{43 \times 43 \times 43 \times 43}{40 \times 40 \times 40 \times 40} = 7478.6$

So, the Amount will be Rs. 7478.6 ✔✔