Question

Show that a sum of money will increase more than 100
times in 100 years at 5% C.I.​

Answer 1

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Answer 2

Answer:

sum of money will increase more than 100

times in 100 years at 5% C.I.

Calculate: Total P+I (A)

Where: A = P(1 + r/n)nt

Principal (P): $ 100.00

Rate (R): % annual 5

Compound (n): Compounding Annually (1/Yr)

Time (t in years): 100

Answer:

A = $ 13,150.13

A = P + I where

P (principal) = $ 100.00

I (interest) = $ 13,050.13

$\frac{13150.13}{100} = 131.50$