Find the compound interest on 30,000 for 2years at 7 percent per annum
1 answer:
Answer:
34347
Step-by-step explanation:
Use the formula s=p(1+r/k)^kt
p=30000
r=7% (interest)
k=1 (because of per annum)
t= 2 (years)
Hence: 30000(1+0.07/1)^1(2) = 34347
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