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3 years ago

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

Mathematics

1 answer:

Ahat [919]3 years ago

7 0

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

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