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A businessman saved Sh. 900 000 in a fixed deposit account which earned Compound Interest at the rate of 15% per annum. How much money...

A businessman saved Sh. 900 000 in a fixed deposit account which earned Compound Interest at the rate of 15% per annum. How much money did he have in the bank at the end of the 2 years?

A. Sh. 1 035 000
B. Sh. 1 170 000
C. Sh. 1 190 250
D. Sh. 2 070 000

Answers


Wilfred
The correct answer is [C]

-Principle = 900, 000
-Rate = 15 % p.a
-Time = 2 years
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Wilfykil answered the question on July 29, 2019 at 06:30

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