Question

Calculate future value if rs 10000 deposited into sebi for 3 years at 8 percent rate of interest compounded annually

Answer 1

Answer:

Future Value (FV) of Rs.10,000 will be Rs.12,597

Step-by-step explanation:

as interest is compounded annually and term is 3 years

i = 8

n = 3

3

FV = 10000 ( 1+0.08)

FV = 10000 * 1.2597

FV = 12597