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Find the amount and the compound interest on 6500 for 2 years, compounded annually,the rate of intere st being 5% per annum during the

Home/Math/Find the amount and the compound interest on 6500 for 2 years, compounded annually,the rate of intere st being 5% per annum during the

Find the amount and the compound interest on 6500 for 2 years, compounded annually,the rate of intere st being 5% per annum during the

Question

Find the amount and the compound interest on 6500 for 2 years, compounded annually,the rate of intere
st being 5% per annum during the first year and 6% per annum during thesecond year.

## Answers ( )

Answer:7234.5

Step-by-step explanation:TheamountP=6500therateofinterestfor1styear=5℅then,interest=(6500X5X1/100)+6500=6825therateofinterestforthe2ndyear=6%thenextamountwillbe,6825then,interest=(6825X6X1/100)+6825=7234.5//