Mr Chan will deposit $25 000 in a bank account at the beginning of each year from 2007 to 2012.If the interest is compounded yearly and the interest rate is 4% pa,find the total amount that he can get at the beginning of 2013.
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MATHS F6
2012-09-17 3:08 am
回答 (1)
2012-09-17 3:27 am
✔ 最佳答案
The total amount is 25000 * (1 + 4%)^6 + 25000 * (1 + 4%)^5 + ... + 25000 * (1 + 4%)
= 25000(1 + 4%)[1 + (1 + 4%) + ... + (1 + 4%)^5]
= 25000(1.04)[1 + 1.04 + ... + 1.04^5]
= 25000(1.04)(1.04^5 - 1)/(1.04 - 1)
= 140 824.387
收錄日期: 2021-04-23 20:48:42
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