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Problem

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3 Nov 2021

Given information

Given that amount of borrow  and rate of interest is and time of amount due is .

Step-by-step explanation

Step 1.

Let be the principal amount borrowed, be the rate of interest, is the time period, and is the duration of compounding.

Analyze the formula for compound interest's final amount as .  

 

 

 

 

 

 

 

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