1.

Int. earned on amount after 2 year at 20% compounded yearly is 1716 find the principal value?

Answer»

ANSWER:

A = P * (1 + i)^N        formula for COMPOUND interest

1716 = P * (1 + .2)^2 = 1.44 P

P = 1716 / 1.44 = 1192



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