Question

Suppose that you deposit Rs. 12,000 at the end of each year for 40 years, subject to annual compounding at a constant rate of 5%. Find the balance after 40 years.​

Answer 1

12000×5/100

=600

12000-600

=11400

Step-by-step explanation:

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Answer 2

Answer:

We know that n term of GP is

Putting a350r 11, n=10

-550(1.1)-1

-550 (1.1)

-(500x1.1)(1.1)

-500(11/11)

-500(1.17-1

Hence amount in 10 years Rs 500[1.11

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Step-by-step explanation:

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