najmayunis85 najmayunis85

23-07-2022
Mathematics

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Aperson invest 10,000 shillings for 40 months compounded monthly. Find the accumulated amount If the rate is 5% per annum.

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redbudtree84 redbudtree84

23-07-2022

hi

monthly interest rate is : [tex]\sqrt[12]{1.05}[/tex]

So in forty month there will be : 10 000 * ( [tex]\sqrt[12]{1.05}[/tex] )^40 ≈11 776,06

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