I hope this helps you
m (R)=m (L)
m (S)=m (M)
m (T)=m (N)
P = 300 $; r = 0.06; t = 20; n = 1
A = P ( 1 + r/n)^n*t
= 300 ( 1 + 0.06) ²⁰
= 300 ( 1.06) ²⁰
= 962.14
Answer:200,000
Step-by-step explanation:
If it increases 5% every year in 20 years it will Have increased 100% therefore the number would have doubled
Answer:
It will take 88.2 months to accumulate the amount
Step-by-step explanation:
Given;
Future value of money, FV = $25,000
investment per compound period, P = $200
interest rate, i = 0.75% x 12 = 9%
The number of monthly installments required to amount to FV is given by;

Therefore, it will take 88.2 months to accumulate the amount.