ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the balance in the account if you deposited $4, 000 at an interest rate of 3.4% compounded annually for n years is $4727.8. Find n
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8
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5
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10
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non
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Explanation:
Detailed explanation-1: -∴ Compound interest is Rs. 410.
Detailed explanation-2: -So, the compound interest = Rs. 5, 227.20-Rs. 4, 000 = Rs. 1, 227.20.
Detailed explanation-3: -∴ The compound interest is Rs. 961.
Detailed explanation-4: -So, the correct answer is “410 Rs.”.
There is 1 question to complete.