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mezya [45]
3 years ago
8

What is 10% Compound interest of R15 000 every month for 3 years?​

Mathematics
2 answers:
Alexandra [31]3 years ago
7 0

Answer:

19500

Step-by-step explanation:

30/100 X 15000 = 4500

15000 + 4500 = 19500

KiRa [710]3 years ago
7 0

Answer:

A = $19,965.00

A = P + I where

P (principal) = $15,000.00

I (interest) = $4,965.00

Calculation Steps:

First, convert R as a percent to r as a decimal

r = R/100

r = 10/100

r = 0.1 rate per year,

Then solve the equation for A

A = P(1 + r/n)nt

A = 15,000.00(1 + 0.1/1)(1)(3)

A = 15,000.00(1 + 0.1)(3)

A = $19,965.00

Summary:

The total amount accrued, principal plus interest, with compound interest on a principal of $15,000.00 at a rate of 10% per year compounded 1 times per year over 3 years is $19,965.00.

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