1.

annuallyExample 10: Find the compound interest on 3600at 10% pa. for 3 years, compounded annually.

Answer»

Amount = 3600(1+10/100)³

= 3600*11*11*11/10*10*10

= 4791.6

Interest = 4791.6 - 3600

= 1191.6



Discussion

No Comment Found