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Maria invests .93750 at 9.6% per annum for 3 years and the interest is compounded annually. Calculate: i) The amount to her credit at the end of 2 year ii) The interest for 3rd year. Please answer its
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Maria invests .93750 at 9.6% per annum for 3 years and the interest is compounded annually. Calculate:

i) The amount to her credit at the end of 2 year
ii) The interest for 3rd year.

Please answer its important

User Daryal
by
5.0k points

1 Answer

4 votes
1year
P=93750
R=9.6%
T=1year
SI=PRT/100
SI=9000
2year
P=102750
R=9.6%
T=1year
SI=PRT/100
=9864
3year
P=112615
R=9.6%
T=1year
SI=PRT/100
=112614×9.6×1
=10810
User Mark Gilchrist
by
5.5k points
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