Asked by Mumme Ahmad
Find the amount of money gain from man investment of birr 800 for 3years at 8% per anum compound interest?
Answers
Answered by
R_Scott
(final amount) = (initial amount) * [1 + (interest rate)]^(years)
... = 800 * (1 + .08)^3
gain = final - initial
... = 800 * (1 + .08)^3
gain = final - initial
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