Question

what are the amount and compound interest for $720 for 3 years at 5% per annum

Answer 1

Answer:

Formula. Following is the formula for calculating compound interest when time period is specified in years and interest rate in % per annum. A = P(1+r/n) nt CI = A-P Where, CI = Compounded interest A = Final amount P = Principal t = Time period in years n = Number of compounding periods per year r = Interest rate

Step-by-step explanation:

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Answer 2

Answer:

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