ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Dale and Lynn purchased their home in 1989 for $89, 000. The house was appraised in 2008 for $325, 000. What was the annual rate of appreciation?
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6.26%
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7.05%
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6.87%
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6.69%
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Explanation:
Detailed explanation-1: -∴ Compound interest is ₹ 1698.58.
Detailed explanation-2: -∴ Amount will be Rs. 3025 and Interest will be Rs. 525 If Compounded Annually.
Detailed explanation-3: -Answer and Explanation: The calculated future value of the investment in 2 years is $121.
Detailed explanation-4: -Compound interest will be calculated by C.I = [P × (1+R100)n]-P. C.I = [15000 × (1+5100)5]-15000. C.I = [15000 × (1+120)5]-15000.
There is 1 question to complete.