Saved Bookmarks
| 1. |
Find the amount of1,000 in 2 years at 2% per annum compounded annually. |
|
Answer» compound interestA=P(1+R/100)^2=1000(1+2/100)^2 =1000*(1.02)^2=1000*1.02*1.02 =1040.4 |
|