lucyliang7369 lucyliang7369

19-05-2021
Mathematics

contestada

Calculate the compound
interest on investing $600 for
2 years at 7% per annum.

Respuesta :

clarch19 clarch19

19-05-2021

Answer:

$86.94

Step-by-step explanation:

A = 600(1 + .07)²

I = 686.94

Answer Link

spectrojamz spectrojamz

19-05-2021

Answer:

Compound Interest (CI) = Amount - principal

Amount = P(1 + R/100)^n

= 600(1+7/100)²

=600(107/100)²

A= 686.94

CI = A - P

= 686.94 - 600

Compound interest = 86.94$

Answer Link

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