Mark M. answered • 09/09/17
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11% of $100 is $11 (that is the meaning of percent!), over three years that is $33.
Matthew T.
asked • 09/09/17Brandon invests R100 at a compound interest rate of 11% per year. How much will Brandon have after 3 years? Do not use the formula.
Brandon invests R100 at a compound interest rate of 11% per year. How much will Brandon have after 3 years? Do not use the formula.
Usually we have a formula for compound interest which is: A=P (1 + r/100) ^ n
But it says do NOT use the formula
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