how many years will it take for an initial investment of lkr 200 to grow to lkr 544 if it is invested today at 8% compounded annually?
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we have to assume year in order to get the answer.do my calculations on calculator so id know to explain this to you. but when 1.08is multiplied by 1.08 ..13 times it give is multiplied by 1.08 ..13 times it gives2.72 as answer. and thats what we need in order to cancel both right and left side value shope you understand the explanation. If you have any query please feel free to ask
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