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02-06-2021
Mathematics

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Mike borrowed a sum of rs 9450 for 5 years at a rate of 6% per year. calculate the total amount that he had to pay.

Respuesta :

02-06-2021

A =?

P= 9456

r = 6% = 0.06

t = 5 yrs

Formula

A= P(1+r)^t

A= 9456×1.06⁵

A = 12646.23

the total amount that he had to pay was 12646 rs

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