Question

Priya saves an amount of 500 every year and then lent that amount at an interest of 10 percent compounded annually. What amount will be received after 5 years

Answer 1

Answer:

A= p {1+r) ^ n }

A= 500{ 1+10%} ^5

A = 500{ 1.1}^5

A = 500{ 1.61051}.

A= 550//