Re: ::: vuaskari.com ::: Assignment # 1 MTH302 (Fall 2011)

a-o-a
hey u solved wrong question no 2

Compound interest=s-p

S=future value
P= principal

S=p(1+r)^n
P=15,000
R=15% per annum
N=66 month
Note:
So, convert the rate of interest per annum
into month=15%/12=1.25%

S=15,000(1+1.25%)^66
=15,000(1+0.0125)^66
=15,000(1.0125)^66
=15,000(2.2702)
=34,053.6261

Future value=s=34,053.6261

Compound interest =s-p
=34,053.6261-15,000
=19,053.6261

Answer:
(1) future value=34,053.6261
(2) compound interest=19,053.6261
this a right salution guys

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