Question

Jack deposits
€10,000 in a bank
that charges an
annual maintenance
fee of 20 % on the
principal and gives
zero interest. What
will be the amount
Jack will have after 4
years?
58000
54096
6400
56600​

Answer 1

Answer:

Step-by-step explanation:

principal=10,000

rate=20%

time=4yrs

SI=P×R×T

=          10000×20×4

                  100

=8000 IS SIMPLE INTREST

AMOUNT=P+SI

=10000+8000

YOUR AMOUNT WILL BE 18,000

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