Question

What is the value of rs.74,000 after 3 and 1/2 year at 5.25% , compounded monthly?

Answer 1

Answer:

634687

Step-by-step explanation:

Compound amount = P(1+R/100)^n

3 and 1/2 year = 42 months

=74000(1+5.25/100)^42

$74000(1 + 5.25 \div 100)^{42}$

=634,687(approximate)

Answer 2

Answer:

634687

Step-by-step explanation:

Compound amount = P(1+R/100)^n

3 and 1/2 year = 42 months

=74000(1+5.25/100)^42

74000(1 + 5.25 \div 100)^{42}

=634,687(approximate)