find the amount and compound interest due to 40000 borrowed for 5 by 2 years for 15 percent per annum

Asked by dhyeyshah98.9soc | 14th Jun, 2021, 12:06: PM

Expert Answer:

straight A space equals space straight P open parentheses 1 plus straight R over 100 close parentheses to the power of straight N
equals 40000 cross times open parentheses 1 plus 15 over 100 close parentheses to the power of 5 over 2 end exponent
straight A equals 56728.93
straight I space equals space 56728.93 space minus space 40000 space equals 16728.93

Answered by Arun | 17th Jun, 2021, 12:48: PM