Q2. (25 points) Compound interest is computed using the principal amount, number of years, and annual...
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Q2. (25 points) Compound interest is computed using the principal amount, number of years, and annual rate of interest as follows: Compound Interest = Px (1+ R/100) where P: principal amount, n: number of years, R: annual rate of interest. calculate the compound interest on a principal amount of $5,000 for a duration of 5 years with the rate of interest equal to 4.5%. Q2. (25 points) Compound interest is computed using the principal amount, number of years, and annual rate of interest as follows: Compound Interest = Px (1+ R/100) where P: principal amount, n: number of years, R: annual rate of interest. calculate the compound interest on a principal amount of $5,000 for a duration of 5 years with the rate of interest equal to 4.5%.
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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