Question

. Temoso borrowed R1 000 from the bank for 3 years at 8% compound interes Without using a formula, calculate how much Temoso owes the bank at the end of three years.​

Answer 1

Answer:initial balance: 1000

interest rate:8%

term 20 years

how often: never

The final balance is $4,926.8.

The total compound interest is $3,926.8.

Explanation: