Farhana deposited TK.10,000 in a Bank at 13.25% interest rate compounded annually. At the end of the second year, the total amount including interest will become how much ?
Created: 6 years ago |
Updated: 2 years ago
best des
C = P(1 + r/n)nt [C = principal with interest, P = principal, r = rate of interest, n = number of times interest is compounded per time period, t = number of time periods]
Here, P = 10000 TK, r = 13.25% , n = 1 , t = 2
C = 10000(1 + 13.25/100)1×2 = 10000 × 1.2826 = 12826 TK
Md Azizur Rahman
Founder of Satt
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