Question

After what period of investment would principal of rs.12350 amount to rs. 17043 at 9% rate of interest

Answer 1

Answer:

Time (t)

Where: t = log(A/P) / n[log(1 + r/n)]

Total P+I (A) = 17,043.00

Principal (P) = 12,350.00

Rate (R): 9 %

(n): Compounding Annually (1/Yr)

Then the answer:

t = 3.737 years