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Juma deposited sh 16000 in a bank which paid compound interest at the of 12 percent per annum. At the end of five years, he...

Juma deposited sh 16000 in a bank which paid compound interest at the of 12 percent per annum. At the end of five years, he withdrew all his money. Determine how much money he withdrew.

Answers


Davis
A =P(1+r/100)n
where A=amount, P=principle, r=rate percent, n=time in years.
A =16000(1+ 12/100)5
=16000(1.12)5
=sh 28197

Githiari answered the question on April 3, 2019 at 17:22

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