A man saves 500 at the end of each year and lends the money at 10% compound
interest. How much will it become at the end of 4 years
Answers
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Step-by-step explanation:
Compound interest = principle (1 +_rate__) raised to N
100
Answered by
2
Answer:
P = 500
R = 10 % / annum , n= 4 years ,A= ? A= P ( 1+ R/100)^n A = 500 × (1+10/100)^4 by solving that we get 500 × 11/10×11/10×11/10×11/10 =14641/ 20 so A = 732.05 rupees
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