Mathematics
26.04.2020 02:42
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By what percentage will an amount gro in 10yeare if it is invested at 5% p.a. compounded
By what percentage will an amount gro in 10yeare if it is invested at 5% p.a. compounded monthly
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fatherbamboo
5,0(91 marks)
64.7%
Step-by-step explanation:
To solve this problem we use compounded interest formula.
a = amount
p = principle
r = interest rate
n = number of times compounded in a period
t = time period
a = 1647.01
1647.01-1000 = 647.01
647.01/1000 = 0.64701
0.64701*100% = 64.7%
Svetakotok
4,8(97 marks)
Gavin’s work.
Brianna’s answer is not 92, it’s -92
Brianna’s answer is not 92, it’s -92
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