Question

What will Rs.247,000 grow to be in 9 years if it is invested today in an account with an annual interest rate of 11%?

Answer 1

n = 9

r = 11%

PV(present value) = 247000

Equation: FV (future value) = PV × $(1 + r {)}^{n}$

SOLVE YOURSELF..!!

Answer = Rs. 631,835.123