Question

( A=P(1+gamma)^{n} )
( 9440=8000[1+gamma]^{3} )
( 1.18=[1+r)^{3} )
( 1+gamma=1.057 )
( gamma=0.057 )
( r=5.7 % )
Rro
( begin{aligned} text { Amount at } & 2^{n} text { year } &=8000[1+gamma]^{2} end{aligned} )
( =8933.3 mathrm{Am} )
qutarest in ( 3^{text {rd }} ) year ( =9440-8933.3 )
( =506.7 ) Ams

# the sum of money. 5. Mohit invests 8.000 for 3 years at a certain rate of interest, compounded annually. At the end of one year it amounts to 9.440. Calculate: the rate of interest per annum. (*) the amount at the end of the second year. (*) the interest accrued in the third year.

Solution