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david wants to deposite 200 Rials each month , in a saving account in the next 4 years. savings will pay 3 percent interest anually. how much she will have at the end of the savings period?

 
Guest Jun 17, 2017
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FV=P{[1 + R]^N - 1/ R}

FV = 200 x {[ 1 + .03/12]^(4*12) - 1 / (0.03/12)}

FV = 200 x {[ 1.0025]^48 - 1 / 0.0025}

FV = 200 x      {0.127328            / 0.0025}

FV = 200 x                       50.9312

FV =10,186.24 - Riyals - David will have after 4 years or 48 months @ 3% compounded monthly.

 
Guest Jun 17, 2017
edited by Guest  Jun 17, 2017
edited by Guest  Jun 17, 2017

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