Question

en Narendra's child was born, he
00 worth of 20-year deposit bon
nk. If the interest on the bonds i
pounded annually, how much
child get when he is 20 years old
en (1.15)20 = 16.3665)
sh deposited 20.000 with a ma​

Answer 1

Answer:

Step-by-step explanation:

when yasheel,s child was born, she bought 5000 rs worth of 20 year deposit bonds from the icici bank.if the interest on the bonds 15%  compounded annually,how much will her child get when he is 20years old?

Given principal = p = Rs 5000

Time n = 20 years

Rate of interest r = 15% compounded annually

We know that  

Amount = P(1 + r/100)^n

Now total amount Yasheel’s child will get when he was 20 years old

So 5000 (1 + 15/100)^20

= 5000 (115 / 100)^20

= 5000 (23 / 20)^20

= 5000 x 16.36653

= Rs 81,832.68