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Which of the following statements could be represented to find the amount annum after 2 years if the interest is compounded annually?A = 6250 (1.16)2Amount on $6250 at 16% per annum.Amount on $6250 at
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Jul 7, 2023
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Which of the following statements could be represented to find the amount annum after 2 years if the interest is compounded annually?A = 6250 (1.16)2Amount on $6250 at 16% per annum.Amount on $6250 at 1.6% per annum.Amount on $6250 at 6% per annum.Amount on $6250 at 0.16% per annum.
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college
Adam Kaplan
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Solution:
Given;
Where;
CORRECT ANSWER:
Amount on $6250 at 16% per annum
Mario Murrent
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Jul 12, 2023
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Mario Murrent
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