Question

what is the amount after 5
years @ 5%, monthly, interest
Charge compoundly at Rs 100,000?​

Answer 1

Answer:

Divide the annual interest rate of 5% by 12 (as interest compounds monthly) = 0.0042.

Calculate the number of time periods (n) in months you'll be earning interest for (2 years x 12 months per year) = 24.

Use the compound interest formula.

I hope that will help

Answer 2

Answer:

1,50,93,471

Step-by-step explanation:

1,50,93,471