Question

Calculate the future value of ₹20,000 invested now for a period of 5years at a time preference rate of 8%.​

Answer 1

Explanation:

t = 5 years

P = ₹20000

r = 8 ℅

i = 20000 ×8×5/100 = 8000

Answer 2

Answer:

Future Value =Rs. 29386.56

Explanation:

FV = PV (1+r)^n

FV = 20000 (1 + 8/100)^5

FV = 20,000 (1.08)^5

FV = 20,000 * 1.469

FV = 29386.56