Question

p=150/- , n=8months, r=8%. find the maturity value of his deposits

Answer 1

Step-by-step explanation:

FOR SIMPLE CASE:-

MV=P(1+R×N)

=150(1+8×2÷3)

=150(19÷3)

=950

FOR COMPOUND CASE:-

MV=P(1+R) ^n

=150(1+8)^2÷3

=150×9

=1350