Question

Pls help me a quick financial maths problem

Answer 1

$74 492.30

Explanation:

P= 50 000

r= 8/100 = 0.08

n= 12

t= 5

P(1 + r/n) ^ (nt)

`= 50000(1 + { (0.08)/(12) )}^((12 * 5))`

=74492.285