<span>A = P (1 + r/n)<span> (nt)
</span></span>A<span> = the future value of the investment</span>
P<span> = (the initial deposit or loan amount)</span>
r<span> = the annual interest rate (decimal)</span>
n<span> = the number of times that interest is compounded per year</span>
t<span> = the number of years the money is invested
</span>
Answer:
https://classcalc.com/graphing-calculator/share/fJcbqPoXEobek5Lm6/untitled-calc
Step-by-step explanation:
x y=6x+12
-1 6
0 12
2 24
4 36
6 48
8 60
Answer: 2 years
Step-by-step explanation:
If Interest= Principal x rate x time/100; then time is (100 × Interest)/(Principal × Rate)
From the question, old Principal is 5600, new principal =6720, the difference is the interest accrued.
Interest = 6720 - 5600 = Rs 1120
Rate = 8% = 8 ÷ 100 = 0.08
Time = x
Then, slot the values into the formula
Time= 100 x 1120 / 6720 x 8
= 112000/53760
=2.08
Time= 2years
I hope this helps