Find the accumulated amount if sh. 40000 is deposited for 4 ½ years at 10% p.a. compound interest.

Find the accumulated amount if sh. 40000 is deposited for 4 ½ years at 10% p.a. compound interest.

Answers

Amount after 4 years = 40000(1.10)^4
=sh 58564
Interest for the last ½ years.
= 58564 x10/100 x1/2
= sh. 2928.20
Amount after 4 ½ years = 58564.00 + 2928.20
=sh. 61432.20

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joseph rimiru answered the question on November 16, 2017 at 19:06

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