Answer:
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Step-by-step explanation:
Amount in compound interest = p(1 + r/t)^nt where p is the initial
deposit, r = rate, t = number of compunding in a period and n = period.
Here,
Amount after t years = 103(1.02)^t
i.e. 1 + r = 1.02
r = 1.02 - 1 = 0.02
Therefore, annual interest rate = 0.02 x 100 = 2%
1. Combining like terms
2. Combining
Multiply both 711.9 and 8.4 by 10 which will remove the decimal point.
and make the calculation much more easier
the required answer would be 84.75
I confused ! I don't get what your trying to say please explain better !
