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Calculate the interest if R 6 500 is invented for 3 years at 7,5% per annum compound interest?

2
by naledi2043

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by naledi2043

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Total compound intrest is Rs 1574.93

substitute i=7.5%=7.5/100=0.075,P=6,500 and n=3

M=6,500(1+0.075)^3

=6,500(1.075)^3

=6,500(1.2422)

=8074.9

I=M-P

=8074.9-6,500

=1574.93