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Maths Puzzle
if man invest 2200 monthly for 15year @9% compound interest then after 15year which amount of money he get.
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- 5170 i guess
- 13 years agoHelpfull: Yes(0) No(2)
- Formaula for compound interest A=p(1+r/q)^nq
=2200(1+0.09/12)^12.15
A=8443.7 - 13 years agoHelpfull: Yes(0) No(1)
- @ Billa /Vaadi,
The man has invesyed Rs 2200 monthly means Rs 2200 per month.
Then final amount must be quite large amount after 15 years. - 13 years agoHelpfull: Yes(0) No(0)
- he will get= 2000*((1+9/100)^15)=2000*3.6425=7285
- 13 years agoHelpfull: Yes(0) No(0)
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