fuadkemal1991 fuadkemal1991

27-07-2021
Mathematics

contestada

find the compound amount and compound interest after 20 years if birr 40000 were invested at 12% interest if compounded quarterly

Respuesta :

eleanordewfall eleanordewfall

27-07-2021

Step-by-step explanation:

formula = 40000x1.12²⁰

= £385,851.72 rounded to 2 decimal places.

overall, the increase from our initial amount is £345851.72 increase. (you could work out the percentage if you wished.)

hope this is okay :)

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