Question

* * ue compound mueresu Tor the third year.
A man saves Rs 5000 every year and invests it at the end of the year at 8% per annum
compound interest. Calculate the total amount of his savings at the end of the third year,
npound Interest​

Answer 1

Answer:

6232

Step-by-step explanation:

5000 at the end of first year will give 400 interest at the end of second year and 432 the end of third year,

while 5000 saving at the end of second year will give 400 at the end of thrid year

all interest are calculated by taking 8% as interest compounded anually

thus, total amount=5000+400+432+400=6232