Question

5000 at 12% compound quarterly compared interest earned after 5 year's

Answer 1

Answer:

A = P(1+r÷100)^n

where A is amount after some days

r is the rate

n is the number of years

p is the principle (the amount of money before the interest)

A = 5000 ( 1 + 12÷100)^5

A = 8811.70

A = 8812