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2705 is compound annually at a rate of 8% for 1 year
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2705 is compound annually at a rate of 8% for 1 year

User Eugeny Okulik
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The formula of compound interest is,


\begin{gathered} A=P(1+i)^n \\ \text{Here, A=2075, i=8\%, n=1 year} \\ 2075=P(1+(8)/(100))^1 \\ P=1921.3 \end{gathered}

User Rajiv Makhijani
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