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A man saved N48 000 with a cooperative society at 4% interest rate for 3 years. Howmuch more money will he have in his account from compound interest than from simple interest if it is compounded semi-
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1 vote
A man saved N48 000 with a cooperative

society at 4% interest rate for 3 years. Howmuch more money will he have in his account from compound interest than from
simple interest if it is compounded semi-
annually (i.e. half yearly).​

User Kurochenko
by
7.6k points

1 Answer

5 votes

Answer:

N5760

(48000x4x3) ➗ 100=N5760

User Gerard Yin
by
7.5k points
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