Find the amount to be paid
1. At the end of 2 years on ` 2,400 at 5% per annum compounded annually.
2. At the end of 1 year on ` 1,800 at 8% per annum compounded quarterly.
Answers
Answered by
3
a=p(1+r/100)n
=2400(1+5/100)5
=2400(21/20)5
= 2400*21/20*21/20*21/20*21/20*21/20
=2400*4084101/3200000
=3036.07575
Answered by
3
Answer:
2646 to be paid at the end of 2 years on Rs. 2400 at 5% per annum compounded annually. So, the correct answer is “2646”.
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