Navarajimmy55
Answered

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A man invests K8 000 for 5 years at 10%p.a. compound interest.

Calculate the investment value at the end of 5 years.​

Sagot :

rvillalta2002

Answer:

Step-by-step explanation:

Compoud interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on interest. the formula is:

[tex]c_n=c_o(1+i)^n\\\\c_o->initial~invesment\\i->interest\\n->number~of~ intervals[/tex]

[tex]c_5=8000(1+\frac{10}{100})^5\\c_5=12848.88[/tex]

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