Asked by tgwt
Compound Interest
Find the amount of money gained from an investment of $4800 for 3 years at 12% per annum
Find the amount of money gained from an investment of $4800 for 3 years at 12% per annum
Answers
Answered by
Anonymous
I assume it is compounded yearly
4800 *(1.12)^3 = 6742.65
the gain is 6742.65 - 4800 = 1943.65
4800 *(1.12)^3 = 6742.65
the gain is 6742.65 - 4800 = 1943.65
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