Question

What sum of money will amount to 3630 in two years at 10% per annum compound interest.And i would like to know this answer by a expert

Answer 1

YOU SAID YOU WOULD LIKE TO VIEW ANSWER FROM AN EXPERT,BUT I AM ABOVE EXPERT,I AM AN ACE......BUT NO WORRIES.....I'LL EXPLAIN U IT DESCRIPTIVELY MATE.....

A=3630

T=2yrs

R=10%

A=p(1+r/100)^t

3630=p(1+10/100)^2

3630=p(11/10)^2

3630=121p/100

P=3630*100/121

P=3000