Find the compound interest on $20000 for 2 years and 3 months at 40% per annum
compounded annually.
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Find the compound interest on $20000 for 2 years and 3 months at 40% per annum
compounded annually.
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Answer:
The power of compounding grows your savings faster ... Compound interest is the interest you get on: ... for (2 years x 12 months per year) = 24. 3. Use the compound interest formula.