Miss Mui deposits $10000 in a bank at an interest rate of 5% p.a. and interest is compounded yearly. Two years later, the interest rate reduces to 4.5% p.a. What will be the amount at the end of the 4th year?
(Give the answer correct to the nearest dollar.)
maths---compounded interest (urgent)
2008-06-09 8:30 pm
回答 (1)
2008-06-09 8:38 pm
✔ 最佳答案
Amount = 10,000(1 + 5%)(1 + 5%)(1+4.5%)(1 + 4.5%) = 10,000(1.05)(1.05)(1.045)(1.045) = 12,039.6 = 12040.
收錄日期: 2021-04-25 22:44:27
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