SOLUTION: invest 600 for 4 years at 8% compound interest pa. how much after 4 years?

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Question 503199: invest 600 for 4 years at 8% compound interest pa. how much after 4 years?
Answer by Sarpi(32) About Me  (Show Source):
You can put this solution on YOUR website!
Compound Interest formula:
Amt=P(1+I)^n where Amt= Amount; P= principal; I= Interest rate; n=Time
P=600
I=8%
n=4yrs
Amt=600(1+8%)^4
=600%281.08%29%5E4
= 816.29
Hence, you will get 816.29