Answer:
19818500 rs.
Step-by-step explanation:
Principal amount = 990925 rs.
Find the number of periods --
1 year = 4 periods
15 years = 60 periods
Find the rate ---
1 year = 16%
1 period = 16/4 = 4%
Find the sum at the end of 15 years :
Sum = P(1 + r)^n
Sum = 990925 ( 1 + 0.04) ^ 60
Sum = 990925( 1.04) ^ 60
Sum = 990925(10.5)
Sum = 10404712.5
Compount interest :-
10404712.5 - 990925
= 9413787.5 rs.
Amount = 10404712.5 + 9413787.5
= 19818500 rs.
Refer to attachment
Hope it helps
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Answers & Comments
Answer:
19818500 rs.
Step-by-step explanation:
Principal amount = 990925 rs.
Find the number of periods --
1 year = 4 periods
15 years = 60 periods
Find the rate ---
1 year = 16%
1 period = 16/4 = 4%
Find the sum at the end of 15 years :
Sum = P(1 + r)^n
Sum = 990925 ( 1 + 0.04) ^ 60
Sum = 990925( 1.04) ^ 60
Sum = 990925(10.5)
Sum = 10404712.5
Compount interest :-
10404712.5 - 990925
= 9413787.5 rs.
Amount = 10404712.5 + 9413787.5
= 19818500 rs.
Hope it helps
Answer:
Refer to attachment
Step-by-step explanation:
Hope it helps