Respuesta :

Answer:

Step-by-step explanation:

time=1 years

interest=principal*time*rate/100

=8000*1*8/100

=64000/100

=640

therefore interest=640

Answer:

Compound Interest = 9680

Step-by-step explanation:

The formula of Compound Interest: [tex]A = P(1 + \frac{r}{n} )^n^t[/tex]

Where;

A = Compound Interest

P = Principal amount

r = Rate of interest

n = amount of deposite annually

t = total time

Therefore:

[tex]A = 8000(1 + \frac{0.08}{1})^1^*^2^.^5[/tex]

[tex]A = 8000(1 + 0.08)^2^.^5[/tex]

[tex]A = 8000(1.08)^2^.^5[/tex]

A = 8000(1.21)

A = 9680

Therefore, the compound interest = 9680

Hope this helps!

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