Question

(b) Principal = * 8000, Rate = 8% p.a., Time=2*1/2years​

Answer 1

Answer:

Compound Interest = 9680

Step-by-step explanation:

The formula of Compound Interest: $A = P(1 + \frac{r}{n} )^n^t$

Where;

A = Compound Interest

P = Principal amount

r = Rate of interest

n = amount of deposite annually

t = total time

Therefore:

$A = 8000(1 + \frac{0.08}{1})^1^*^2^.^5$

$A = 8000(1 + 0.08)^2^.^5$

$A = 8000(1.08)^2^.^5$

A = 8000(1.21)

A = 9680

Therefore, the compound interest = 9680

Hope this helps!

Answer 2

Answer:

Step-by-step explanation:

time=1 years

interest=principal*time*rate/100

=8000*1*8/100

=64000/100

=640

therefore interest=640