Asked by Ayanda
If i invest R2950 in the bank, the interest rate is 8,10% per month. What will be the value of my money in period of 18 months?
Answers
Answered by
MathMate
P=2950 (principal)
i=0.081 per month (period=1 month)
n=18 (periods)
A=P(1+i)<sup>ni</sup> (accumulated value)
Take out the calculator and calculate the value of A, value after 18 months.
i=0.081 per month (period=1 month)
n=18 (periods)
A=P(1+i)<sup>ni</sup> (accumulated value)
Take out the calculator and calculate the value of A, value after 18 months.
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