SOLUTION: Determine the sum to be invested for 4 years at 12.5% per annum compounded monthly to amount N$65000 at the end of investment

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Determine the sum to be invested for 4 years at 12.5% per annum compounded monthly to amount N$65000 at the end of investment      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 1092641: Determine the sum to be invested for 4 years at 12.5% per annum compounded monthly to amount N$65000 at the end of investment
Found 2 solutions by addingup, MathTherapy:
Answer by addingup(3677) About Me  (Show Source):
You can put this solution on YOUR website!
P(1+(0.125/12))^(4*12) = 65000
P*1.644 = 65000
P = 39537.71

Answer by MathTherapy(10555) About Me  (Show Source):
You can put this solution on YOUR website!

Determine the sum to be invested for 4 years at 12.5% per annum compounded monthly to amount N$65000 at the end of investment
Correct answer: highlight_green%28%22%2439%2C526.59%22%29%29