Question

find the amount, present value and interest of an annuity of rs 500 for 8 years, the rate of compound interest is 5% p.a.​

Answer 1

Answer:

solution for the given question is as follows

Answer 2

Given; the principal value of 500 rs, time is 8 years, the rate is 5%

To Find; Find the amount

Solution; $Amount=Principal amount(1+\frac{R}{100}) ^T$

=(1+8/100)^8

=500*1.85

=925

Hence the amount that will be received after 8 years will be 925