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find an accumulate amount after investing R25 000.00 on a compound interest rate of 5% for eight years.​

User Nacola
by
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1 Answer

6 votes

Explanation:

Use the compounding formula

FV = PV (1 + i)^n FV = future value PV = present value ( R 25000)

i = decimal interest per period =.05

n = periods( years) = 8

FV = 25 000 ( 1 + .05)^8 = R 36936.39

User Manix
by
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