Question #55a9f

1 Answer
Kushagra
Jan 26, 2018

Here.. it is clear that the question increases compoundingly..
The formula for addition in compounding annually is:
#p[1+r/100]^t#
Where:
p is for principal.... 20,000 in this case
r is rate.... 10% in this case
t is time.... 3 years in this case because #2012 - 2009 =3#
#20,000[1+10/100]^3#
#20,000[110/100]^3#
#20,000[11/10]^3#
#20,cancel0cancel0cancel0xx (11xx11xx11)/(1cancel0xx1cancel0xx1cancel0)#
Which gives
#20xx121xx11#
Or...
#26620#
Do the math

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