Question

Find the compound interest on N650.00 in 3 years at 4% per annum

Answer 1

as usual, that would be

P((1+r)^t - 1)

Answer 2

A=P(1+r/100)^n

=650(1+4/100)^3
=731.16
I=A-P
=731.16-650
=81.16