Question

If Rs 150,000 are invested today in saving account ,how much money would there be in the account after 5 years if the compound interest is 6%?

Answer 1

Answer:

Rs. 200733.84 (Approx)

Step-by-step explanation:

Fv = Pv (1+i)^n                                                     Here,

    = 150000 (1+.06)^5                                      Present Value (Pv) = 150000

    = 200733.84                                                Interest Rate (i) = 6% or 0.06

                                                                          Time (n) = 5 years

                                                                           Future Value (Fv) = ?