Eighty percent of what number is 1120
1 answer:
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Answer:
$148.02
Step-by-step explanation:
In the question
Principal = $100, rate(R) = 4% compounded annually, time(T)= 10 years
we know that the formula for compound interest
A= where A is amount
now putting values in the above formula we get
A=
therefore A= $148.024428
rounding off to the nearest penny we get amount as $148.02 and compound interest will be $48.02