Answers

2016-01-03T22:59:01+05:30
Compound interest
A = P(1+r/n)^nt
A is amount to be received
P is principal
r is rate of interest
n is no. of times compounded in 1 year
t is no.of years
A = P (1+r/n)^nt
A = 10000(1+0.1/1)^1*2
=10000*(1.1)^2
= 10000*(1.21)
= 12100
Now, P is 12100
A= P(1+r/n)^nt
= 12100(1+0.1/2)^2*3
= 12100(2.1/2)^6
= 12100(85.766121/64)
= 12100(1.34009564)
= 16215.1572
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2016-01-04T10:10:43+05:30
Yes, his answer is all correct.
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