What will $2,47,000 grow to be in 9 years if it is invested today in an account with an annual interest rate of 11%?
Please explain
Answers
Answered by
7
hello Frnd
Here
principal amount = $ 247,000
Time = 9 yrs
Rate of Interest = 11%
As we know
Simple Interest = P × R × T
= 247,000 × 11/100 × 9
= 244530
Hence
247000 will grow in 9 yrs by 244530 @ 11%
The Amount will be = 247,000 + 244530
= $ 491530
hope it helps.
#jerri
Here
principal amount = $ 247,000
Time = 9 yrs
Rate of Interest = 11%
As we know
Simple Interest = P × R × T
= 247,000 × 11/100 × 9
= 244530
Hence
247000 will grow in 9 yrs by 244530 @ 11%
The Amount will be = 247,000 + 244530
= $ 491530
hope it helps.
#jerri
Answered by
0
Answer: $631,835.12
Step-by-step explanation:
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