ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Carlos deposited $5000, at 8% for 3 years. Find compound interest.
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$1200
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$5000
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$6298.56
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$1298.56
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Explanation:
Detailed explanation-1: -5832∴ C.I. = A-P = Rs. 5832-5000= Rs. 832 (c)
Detailed explanation-2: -5000 for 3 years at 8% for first year, 10% for second year and 12% for third year will be: 1) Rs. 1750 27Rs.
Detailed explanation-3: -Compound interest =₹6655−₹5000=₹1655.
There is 1 question to complete.