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1. Calculate the amount and compound interest on (a) 10,800 for 3 years at 12% per annum compounded annually.(b) 18,000 for 2 years at 10% per annum compounded annually.(C) 262,500 for 13 years at 8% per annum compounded half yearly .(d) 38,000 for 1 year at 9% per annum compounded half yearly(You could use the year by year calculation using Sl formula to verify).(e) 10,000 for 1 year at 8% per annum compounded half yearly |
| Answer» ANSWER: A=P(1+R100)TP = 10800, R =1212% and t = 3 yearsSo, A=10800(1+25200)3=10800(1+18)3=10800(98)3=10800×98×98×98=15377.34So, INTEREST =A–P=15377.54−10800=4577.34 | |