Question

The maturity value of a fixed deposit worth 2,000 kept for 8 years in a company at

12% compound interest, if the interest is compounded annually is given by,

a) 4951.9

b) 1920

c) 3920

d) 2900​

Answer 1

Answer:

p=2000

time=8 years

rate =12%

amount=p(1+(12/100))^8

amount=2000*(1.12)^8=4951.9

Answer 2

Answer:

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