SOLUTION: A finance company is offering an attractive rate of 15% per annum on investment and Angela decides to invest Rs 50 000 on 1st January 2014. Find a. the value of the investment at

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: A finance company is offering an attractive rate of 15% per annum on investment and Angela decides to invest Rs 50 000 on 1st January 2014. Find a. the value of the investment at      Log On


   

Question 986486: A finance company is offering an attractive rate of 15% per annum on investment and Angela decides to invest Rs 50 000 on 1st January 2014.
Find
a. the value of the investment at the end of 2018.
b. the interest received during the fifth year.
On 1st January 2019, she decides to invest Rs20 000 at the start of each year for 10 years.
c. Find, to the nearest Rs, the total value of her investment at the end of 15 years.
Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!


a.

Compound or simple interest?

Simple interest:

Compound interest:

where is the number of compounding periods per year. Remember to express the interest rate as a decimal.

John

My calculator said it, I believe it, that settles it