14. What sum of money will amount to
6655 at the rate of 10% per annum
compounded annually in 3 years?
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14. What sum of money will amount to
6655 at the rate of 10% per annum
compounded annually in 3 years?
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Answer:
8857.8
Step-by-step explanation:
Use compound interest formula
I = P × (1 + r/100)^t
I = 6655 × ( 1 + 10/100)^3
I = 8857.8