Find the amount to be paid at the end of three years on Rs 5000 at 8% compounded annually?

Answers (1)

\\A_{n}=P_{1}(1+\frac{R}{100})^{n}\\ P_{1}=Rs\ 5000\\ n=3\\ R=8\\ A_{3}=5000\times (1+\frac{8}{100})^3\\ A_{3}=Rs\ 6298.5\\

The amount to be paid at the end of 3 years is Rs 6298.56.

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