So.What will a loan of10,000 amount to in 2 years if compounded annual – InterviewSolution

1.

So.What will a loan of10,000 amount to in 2 years if compounded annually at the rate of 10% per1annFind the amount and the compound interest on 15,000 for 1 ycn at 10

Answer»

10000(1+10/100)²

= 10000*11*11/10*10

= 121*100

= 12100

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