Question

Find the compound interest on 30,000 for 2years at 7 percent per annum​

Answer 1

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