Asked by isaac
You have 10,000 invested at 8% interest per annum. How much interest is earned in 2 years, 4 months?
Answers
Answered by
oobleck
the interest only accrues at the end of each year, so assuming compound interest,
10000 * 1.08^2
you may want to be a little more careful when presenting the problem.
10000 * 1.08^2
you may want to be a little more careful when presenting the problem.
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