To find:
The amount after three years Given:
(i) Principal – 15625
(ii) Time – 3 years
(iii) Rate – 8% per annum
Formula used:
A = \(P \big(1+ \frac{r}{100}\big)^t\)
A = 15625 \(\big(1+ \frac{8}{100}\big)^3\)
A = \(15625 \big(\frac{108}{100}\big)^3\)
A = 19683