Question

find an accumulate amount after investing R25 000.00 on a compound interest rate of 5% for eight years.​

Answer 1

Explanation:

Use the compounding formula

FV = PV (1 + i)^n FV = future value PV = present value ( R 25000)

i = decimal interest per period =.05

n = periods( years) = 8

FV = 25 000 ( 1 + .05)^8 = R 36936.39