Question

find a compound amount of rs 850000 for 20 years that pays at the rate of 12 % per annum. compounded monthly?​

Answer 1

Answer:

Compound amount will be Rs 92,58,670.61

Step-by-step explanation:

Given :

Principal = Rs 8,50,000

Time = 20 Years

Interest rate = 12 % per annum Compounded Monthly

To Find :

Compound Amount

Solution :

A = Compound amount ( Future value of investment)

P = The principal amount (The initial deposit or loan amount)

r = Interest rate per annum

n = Time

$A = p ^{(1 + \frac{r}{100})(n \times 12) }$

A=92,58,670.61

Answer 2

Answer:

A=92,58,670.61

Step-by-step explanation:

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