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Answer to Question #13037 in Statistics and Probability for VIPUL AGARWAL

Question #13037
Ramesh save the money 1000 Rs per 5 yrs than what is the total money after 5yrs if the rate of interest is 10%.
1
Expert's answer
2012-08-14T10:03:03-0400
Ramesh save the money 1000 Rs per 5 yrs than what is the total money after 5yrs if the rate of interest is 10%.

At the end of the fifth year Ramesh will have 1000*(1.1)^5 = 1610.51 Rs.


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