Find the compound interest on 50000 for 9 month at 8 %
1 answer:
Answer:The answer is 5, 414.52
Step-by-step explanation:
Since number of years isn't imputed, it will be assumed it's for 1 year
Hence using Compound interest formula
A = P( 1 + r/n)^not
Inputting values
A = 5000( 1 + 0.08/9) ^ 9*1
A = 5, 414.52
Hope this helps
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Step-by-step explanation:
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