SOLUTION: Find the compound interest and the final amount for N15000 for 2years at 5% per annum

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Question 1174341: Find the compound interest and the final amount for N15000 for 2years at 5% per annum
Answer by ikleyn(52794) About Me  (Show Source):
You can put this solution on YOUR website!
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(a)  The compound Future value = 15000%2A%281%2B0.05%29%5E2 = 15000%2A1.05%5E2.

         Use your calculator.



(b)  The compound interest = future value MINUS 15000.

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To learn the subject, see the lesson
    - Compounded interest percentage problems
in this site.