when yasheel,s child was born,she bought 5000rs worth of 20 year deposit bonds from the icici bank.if the interest on the bonds 15% compounded annually,how much will her child get when he is 20years old? (given(1.18)10=16.3665)
Answers
Step-by-step explanation:
Given
when yasheel,s child was born, she bought 5000 rs worth of 20 year deposit bonds from the icici bank.if the interest on the bonds 15% compounded annually,how much will her child get when he is 20years old?
- Given principal = p = Rs 5000
- Time n = 20 years
- Rate of interest r = 15% compounded annually
- We know that
- Amount = P(1 + r/100)^n
- Now total amount Yasheel’s child will get when he was 20 years old
- So 5000 (1 + 15/100)^20
- = 5000 (115 / 100)^20
- = 5000 (23 / 20)^20
- = 5000 x 16.36653
= Rs 81,832.68
Answer:
= Rs 81,832.68
Step-by-step explanation:
when yasheel,s child was born, she bought 5000 rs worth of 20 year deposit bonds from the icici bank.if the interest on the bonds 15% compounded annually,how much will her child get when he is 20years old?
Given principal = p = Rs 5000
Time n = 20 years
Rate of interest r = 15% compounded annually
We know that
Amount = P(1 + r/100)^n
Now total amount Yasheel’s child will get when he was 20 years old
So 5000 (1 + 15/100)^20
= 5000 (115 / 100)^20
= 5000 (23 / 20)^20
= 5000 x 16.36653
= Rs 81,832.68 pls mark as brainlist.