Get premium membership and access questions with answers, video lessons as well as revision papers.

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


Next: In the thin triangular laminar ABC shown in figure below, determine geometrically the centre of gravity
Previous: A mixed day and boarding secondary school has a student depositions population of 630. The ratio of girls to boys is 3:4. The school has...

View More Mathematics Questions and Answers | Return to Questions Index


Learn High School English on YouTube

Related Questions