Question

Brain Hirt started business on January 1, 2000. Every year he plans to deposit Rs. 2500 in his bank account, which earns 8 percent annually. First payment will start at the end of year 2000. On December 31, 2005, he used the entire balance in his bank account to invest in a certificate of deposit at 12 percent annually. How much will he have on December 31, 2010?

Answer 1

He would have 20,00

Explanation:

You first have to calculate the profit them add it to your original price and since he put 2,500 in for five years you multiply 2,500 by five to get your original price before you add your interest to it