Question

find the amount 990925 for 15 years at the rate of 16% per annum compounds quaterly​

Answer 1

Answer:

19818500 rs.

Step-by-step explanation:

Principal amount = 990925 rs.

Find the number of periods --

1 year = 4 periods

15 years = 60 periods

Find the rate ---

1 year = 16%

1 period = 16/4 = 4%

Find the sum at the end of 15 years :

Sum = P(1 + r)^n

Sum = 990925 ( 1 + 0.04) ^ 60

Sum = 990925( 1.04) ^ 60

Sum = 990925(10.5)

Sum = 10404712.5

Compount interest :-

10404712.5 - 990925

= 9413787.5 rs.

Amount = 10404712.5 + 9413787.5

= 19818500 rs.

Hope it helps

Answer 2

Answer:

Refer to attachment

Step-by-step explanation:

Hope it helps