Answer:
840
Step-by-step explanation:
8.4x10^2
8.4x100
move the decimal to the right for the amount of zeros :)
840
If 5 x 6 = 30 you can figure out 8 x 6 by adding 6 three times to 30!
30 + 6 = 36
36 + 6 = 42
42 + 6 = 48 <-- the answer is 48!
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%
