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Popular Word Problems >

carol invest R18000 for 6 years at rate of 15% p.a compounded annually.what will be the total value of carol investment after 6 years

Solution

c a ro l in v es t R 18000 f or 6 ye a rs a t r a t e o f 15% p . a co m p o u n d e d ann u a ll y . w ha t w i ll b e t h e t o t a l v a l u e o f c a ro l in v es t m e n t a f t er 6 ye a rs

Solution

Amount : 41635.09

Solution steps

Translate the problem into an equation:

A = 18000 (1 + \frac{0.15}{1})^{1 \cdot 6}

18000 (1 + \frac{0.15}{1})^{1 \cdot 6} = 41635.09378 \dots

Round to the nearest hundredth:

41635.09

Amount : 41635.09

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