ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Ms. Hartley puts $70, 000 in an account that earns .4% interest compounded annually. How much interest will Ms. Hartley have earned in 20 years?
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$ 5, 818
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$ 75, 818
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$ 13, 378.62
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$ 83, 378.62
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Explanation:
Detailed explanation-1: -∴ Compound interest is Rs. 410.
Detailed explanation-2: -The compound interest on Rs. 16000 for 9 months at ‘20%‘ p.a, compounded quarterly is Rs. 2522.
Detailed explanation-3: -Answer and Explanation: The correct answer is d) $1, 116.14.
Detailed explanation-4: -So, the correct answer is “410 Rs.”.
There is 1 question to complete.