ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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$15000 invested at 4.5% compounded annually for 3 years
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$17117.49
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$17000
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$1711.75
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None of the above
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Explanation:
Detailed explanation-1: -= ₹ 18889.20-₹ 15000= ₹ 3889.20.
Detailed explanation-2: -It is calculated by multiplying the first principal amount by one and adding the annual interest rate raised to the number of compound periods subtract one. The total initial amount of your loan is then subtracted from the resulting value. P is principal, I is the interest rate, n is the number of compounding periods.
There is 1 question to complete.