45 tens plus 6 ones. is 456 the answe?
2 answers:
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Answer: Andy should invest RS. 2784.19 for 12 years .
Step-by-step explanation:
Since we have given that
Amount = Rs. 5000
Time = 12 years
Rate of interest = 5%
So, We need to find the sum:
Using "Compound interest" , we get :
Hence, Andy should invest RS. 2784.19 for 12 years .
Total = Principal × ( 1 + Rate ) ^ years
(Solved by taking logarithms)
Years = log (total / principal) / (log (1 + rate))
Years = log (684 / 600) / (log 1.07)
Years = log (1.14) / (log (1.07)
Years = 0.0569048513364726 / 0.0293837776852097
Years = 1.9366077414
