Asked by Nicole
Mrs wong wants to invest $50000 for 3 years.
Simple interest of 5% p.a. for the first year, and then interest compounded monthly at 3% p.a. in every subsequent year. Find the amount she will receive.
Simple interest of 5% p.a. for the first year, and then interest compounded monthly at 3% p.a. in every subsequent year. Find the amount she will receive.
Answers
Answered by
demolitrate
50000(1+5/100)[1+(3/12)/100]^(2*12)