Question 1192355
Find the balance of the account after:


a) 2 years if K3000 is invested at 8% per annum compounded quarterly


2 years * 4 quarters per year = 8 quarters.
8% per year / 4 quarters per year = 2% per quarter.
3000 * 1.02 ^ 8 = 3514.978143.


b) 5 years if K2000 is invested at 6% per annum compounded 6 monthly.


5 years * 2 semi-annual time periods per year = 10 semi-annual time periods.
6% per year / 2 semi-annual time periods per year = 3% per semi-annual time period.
2000 * 1.03 ^ 10 = 2687.832759.


c) 4 years if K5000 is invested at 12% per annum compounded monthly.


4 years * 12 months per year = 48 months.
12% per year / 12 months per year = 1% per month.
5000 * 1.01 ^ 48 = 8061.130388.


d) 5 1/2 years if K960 is borrowed at 11% per annum compounded fortnightly.


5.5 years * 26 fortnights per year = 5.5 * 26 = 143 fortnights.
11% per year / 26 fortnights per year = .4230769231% per fortnight.
960 * 1.004230769231 ^ 143 = 1755.759973.


let me know if you have any questions.
theo