Question

what is the compound interest on 16 thousand for 9 month at 20% per annum interest begin compound​

Answer 1

Step-by-step explanation:

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C.I = P(1+ R/n)^(0.75) - P

= 16000(1+ 20/0.75×100)^(0.75) - 16000

= 16000 [ (1 + 20/75)^(0.75) -1]

= 16000 [ (1 + 4/15)^(0.75) -1]

= 16000 [ (19/15)^(0.75) -1]

= 16000 [1.194-1]

= 16000 × (0.194)

= 3104