Business Studies, asked by ggbx6436, 10 months ago

Which a sum of 600 can give compound interest of 50 in 2 years?

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Answered by mishti53

1

Answer:

Multiply the product by the time or term of the loan. For example, assume the principal is $100,000, the interest rate is 11 percent and the term is 2 years. The simple interest formula is I = P x R x T. Compute compound interest using the following formula: A = P(1 + r/n) ^ nt.

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