Question

Find the compound interest on 50000 for 9 month at 8 %

Answer 1

Answer:The answer is 5, 414.52

Step-by-step explanation:

Since number of years isn't imputed, it will be assumed it's for 1 year

Hence using Compound interest formula

A = P( 1 + r/n)^not

Inputting values

A = 5000( 1 + 0.08/9) ^ 9*1

A = 5, 414.52

Hope this helps