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(a) Ahamed invested an amount of $2000 at the rate of 5% per annum for 2 years. Find the compound interest when interest is compounded annually.
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(a) Ahamed invested an amount of $2000 at the rate of 5% per annum for 2 years. Find the compound interest when interest is compounded annually.

User JHowzer
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1 Answer

2 votes

Answer:

The the compound ineterest is $2205

Explanation:

5/100 * 2000 = 100

2000 + 100 = 2100

5/100 * 2100 = 105

2100 + 105 = 2205

Hence the the compound ineterest is $2205

User Sjlee
by
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