Asked by fizz
1.find the future value for the following investment :
a) RM19999 at 4.5% COMPOUNDED every 2 months for 2 year
b) RM 120000 at 5 3/4 percent compounded monthly for 3 1/4 years
a) RM19999 at 4.5% COMPOUNDED every 2 months for 2 year
b) RM 120000 at 5 3/4 percent compounded monthly for 3 1/4 years
Answers
Answered by
Henry
a. P = Po(1+r)^n
Po = $19,999
r = (4.5%/6)/100% = 0.0075
n = 6comp./yr. * 2yrs. = 12 Compounding
periods.
Solve for P.
b. P = Po(1+r)^n
Po = $120,000
r = (5.75%/12/100% = 0.00479 = Monthly
% rate expressed as a decimal.
n = 12comp./yr. * 3.25yrs. = 39 Compounding periods.
Solve for P.
Po = $19,999
r = (4.5%/6)/100% = 0.0075
n = 6comp./yr. * 2yrs. = 12 Compounding
periods.
Solve for P.
b. P = Po(1+r)^n
Po = $120,000
r = (5.75%/12/100% = 0.00479 = Monthly
% rate expressed as a decimal.
n = 12comp./yr. * 3.25yrs. = 39 Compounding periods.
Solve for P.
Answered by
Anusha
Principal amount 75000
Int rate 19%
time 22months
Find the compound interest
Int rate 19%
time 22months
Find the compound interest
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