some question about Maths

2008-09-18 3:31 am

If $70000 is invested at 6% p.a. compounded monthly, find the compound interest after 8 months.

Please show the work out!!!!! Also explain please!!!! THANKS

回答 (1)

Katie

2008-09-18 3:56 am

✔ 最佳答案

Amount= 70000 x(1+ 6% x 1/12)< 8次方
=72849.5 (corr to 6 sig fig).

compound interest= 72849.5 - 70000
= $2849.5

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