At the end of four years, Romeo deposits R500 into an investment account. If the interest rate on the account is 10% per annum compounded yearly, determine the value of his investment at the end of 4 years.
1
Expert's answer
2021-09-28T15:54:19-0400
Here, P=R500, r=0.1,
and t=4
"A=P(1+r)^t"
"=500(1+0.1)^4"
"= 500(1.1)^4"
"=R732.05"
The value of his investment at the end of 4 years is R732.05
Numbers and figures are an essential part of our world, necessary for almost everything we do every day. As important…
APPROVED BY CLIENTS
"assignmentexpert.com" is professional group of people in Math subjects! They did assignments in very high level of mathematical modelling in the best quality. Thanks a lot
Comments
Leave a comment