Question

If you deposited 15,000 at an interest rate of 1.5% how much would you have after 10 years

Answer 1

Explanation:

A= P(1+r/100)^n

= 15000(1+1.5)^10

= 17408.11 [Ans]

Answer 2

Explanation:

principal (P)=15000

rate (T)=1.5%

time (R)=10 years

first lets find interest

Interest=PTR/100

=15000*1.5*10/100

=225000/100

=2250

Now total amount he gets after 10 years at the reate of 1.5% is

Amount = Principal + Interest

=15000 + 2250

=17250

Therefore he gets 17,250.