Math  /  Word Problems

QuestionFind the compound interest on \$70000 at 6\% p.a. compounded monthly after 8 months.

Studdy Solution
Calculate the compound interest.
Compoundinterest=$72,343.75$70,000=$2,343.75Compound\, interest = \$72,343.75 - \$70,000 = \$2,343.75The compound interest received after8 months is \$2,343.75.

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