Answer:
P = 1039.5
Step-by-step explanation:
Given:-
- The initial amount deposited, Po = 500
- The interest rate applied, I = 5% compounded annually
Find:-
- The amount on her bank statement after 15 years?
Solution:-
- We see that the principal amount increases every year and no transactions have been made in the course of 15 years.
The total amount left in her savings account would be given by the following formula:
P = Po * ( 1 + I/100 )^n
- Where, n = number of years passed since deposit. (15 years)
P = 500 * ( 1 + 5/100 )^15
P = 500 * (1.05)^15
P = 1039.5
Answer:
Step-by-step explanation:
GIVEN: Daniel invests 
in a retirement account with a fixed annual interest rate of 
compounded 
times per year.
TO FIND: What will the account balance be after 
years
SOLUTION:
Amount invested by Daniel 
Annual interest rate 
Total amount generated by compound interest is 
Here Principle amount 
rate of interest 
number of times compounding done in a year 
total duration of time 
putting values we get
=
Hence the total balance after 
will be
Answer:
in what time will 24000 amount to rs.30000 at 10% p.a?
Answer:
8 for tens, 9 for hundredths and thousandths is 1
Step-by-step explanation:
you can find the number by looking at the place of the numbers if it is tens look at the tens place which is the number eight as tens are 2 digit numbers
