Calculate the compound interest a saleswoman would have to pay if she borrows $54 000 for 9 years at 12% per annum compound interest.​

Given:

Principal = $54,000

Time = 9 years

Rate of compound interest = 12% per annum.​

To find:

The compound interest.

Solution:

The formula for amount is:

Where, P is principal, r is the rate of interest in decimal, n is the number of time interest compounded and t is the number of years.

The interest is compounded annually, so .

Substituting in the above formula, we get

The amount after 9 years is $149746.25.

Now, the compound interest is:

Where, C.I. is compound interest, A is amount and P is principal.

Therefore, the compound interest is $95746.25.

the correct answer is x/3+10≥32

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