Verified answer

Answer:

First covert the rate into a simpler value [tex]6\frac{1}{4} = 25/4 = 6.25[/tex] which is the value of R

A = P(1 + r/n)nt

In the formula

A = Total amount (principal + interest)

P = Principal amount

r = Annual nominal interest rate as a decimal

r = R/100

n = number of compounding periods per unit of time

t = time in decimal years; e.g., 6 months is calculated as 0.5 years. Divide your partial year number of months by 12 to get the decimal years.

I = Interest amount

Then solve the equation for A

A = P(1 + r/n)nt

A = 40,960.00(1 + 0.06/1)(1)(3)

A = 40,960.00(1 + 0.06)(3)

A = ₹48,784.02

Hope this helps, please mark me brainliest

Step-by-step explanation:

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