what amount harish has to pay at the end of 3 years on a sum of Rs 40,000 at an interest of 16 %compounded annually?
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Answer:
62435.84
Step-by-step explanation:
A = P ( 1 + ( r/100) ) ^n
P= 40,000
r = 16
n= 3
A = 40000 ( 1+ ( 16/100 ) ) ^3
A= 62435.84
Hope this helps
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