Question

what
sum of money will amount to $ 3704.40 cm
at 3 years at 5% compound interest
​

Answer 1

Step-by-step explanation:

Step-by-step explanation: Using A = P(1 + r/100) n , we get 3704.40 = P(1 + 5/100) 3 => 370440/100 = P ×21/20×21/20×21/20 Or, P = 370440/100×20/21×20/21×20/21= 3200 Hence, required sum of money = Rs3200