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Find the SUM on a compound interest basis on $10,000 for 2 years at 7% pa (with explanation)

Find the SUM on a compound interest basis on $10,000 for 2 years at 7% pa (with explanation)
asked 80.9k views
5 votes
Find the SUM on a compound interest basis on $10,000 for 2 years at 7% pa (with explanation)

asked
User Sam Fischer
by
7.9k points

1 Answer

4 votes

Answer:

11,400

Explanation:

2 x 7% is 14%

14% of 10,000 is 1,400

10,000 + 1,400= 11,400

answered
User SuperDuperTango
by
8.8k points
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