Verified answer

Answer:

[tex]CI−SI=P[(1+r) ^{n} −1−rt] \\ \\ = 36000 \: [(1 + \frac{12}{100} )^{3} - 1 - \frac{12}{100} \times 3] \\ \\ = 36000 [( \frac{28}{25} )^{3} - 1 - \frac{9}{25} ] \\ \\ = 1617.408[/tex]

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