Question

WHAT WILL BE THE MaTurity VALUE Of †12,000.00 in invested for 4 Years at 15% Compounded quarterly​

i am also fine sis​

Answer 1

Answer:

THE MATURITY VALUE WILL BE 21626.7

Step-by-step explanation:

Given : Principle amount (P) - 12000

            No of years (t) - 4

            no of times interest compounded in a year (n) - Quarterly = 4

            rate of interest (r) = 15 % = 0.15

Solution :  Compound interest formula is as below

                 Maturity value = P × $(1+r/n)^{nt}$

                                         = 12000 × $(1+ 0.15/4)^{4X4}$

                                         =12000 × $1.0375^{16}$

                                         = 21626.7