Principle 1600, rate 6 ,time 2.5 years find CI

Mathematics

1 answer:

shutvik [7]3 years ago

5 0

Answer:

C.I = $251.2

Step-by-step explanation:

P = Principal amount = 1600

r = rate of annual interest = 6%

n = period / no. of years = 2.5 years

C.I = (P* (1+r^n))-P

C.I = (1600*(1+0.06)^2.5))-1600

C.I = (1600*(1.06^2.5))-1600

C.I = (1600*1.157)-1600

C.I = 1851.2-1600

C.I = 251.2

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