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Define a rational function of money (interest) that gives the required principal that will give the giveninterest after five (5) years at a rate of 0.8%. Attachthe definition of the function with brief explanation.I will mark you as brainlist if you answer my question. |
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Answer» ong>Given : INTEREST rate = 0.8 % , time = 5 Years To find : PRINCIPLE in terns of interest Solution: Principle = P Rate of interest R = 0.8 % per annum Time N = 5 Years AMOUNT after 5 years = A A = P (1 + R/100)ⁿ Interest I = A - P I = A - P => I = P (1 + R/100)ⁿ - P => I = P ( ( 1 + R/100)ⁿ - 1 ) => P = I / ( ( 1 + R/100)ⁿ - 1 ) P = I / ( ( 1 + 0.8/100)⁵ - 1 ) => P = I / (1.008⁵ - 1) => P = 24.6I Learn More: a man borrows rupees 6000 at 5% CI per annum if he pays rupees ... Rs12000 is invested for 1½ years at compound Interest (CI) if ... 1. Find the difference between CI and SI on 5000 for 1 year at 2% pa |
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