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I much should be invested at a fixed rate of 9% p. a. compounded interest id you wish it to amount to k20000 after 4 years with interest paid monthly
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I much should be invested at a fixed rate of 9% p.

a. compounded interest id you wish it to amount to k20000 after 4 years with interest paid monthly

User Shyamala
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1 Answer

2 votes
P=A/(1+i/m)^mn
P=20000/(1+0.09/12)^12*4
P=(20,000)÷(1+0.09÷12)^(12×4)
P=13,972.28
User Pittnerf
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