Interest calculation
This query is : Resolved
26 June 2012
50000 invested on 2march for 5 years and interest rate is 9.25% the interest should get 78985 solve this
DIVYA MITTAL
(Expert)
27 June 2012
From ist year 2nd march -1Mar =50000*9.25%=4625 total payments in ist year=50000+4625=54625.
2nd year-54625*9.25%=5053 then payment=54625+5053=59678
3rd year=59678*9.25%=5520,then payment=59678+5520=65198
4th year=65198*9.25%=6031 then payment is=65198+6031=71229
5th year=71229*9.25%=6589,then payment after 5 years=71229+6589=77818 this is my view if the case of compounding interest.
2nd year-54625*9.25%=5053 then payment=54625+5053=59678
3rd year=59678*9.25%=5520,then payment=59678+5520=65198
4th year=65198*9.25%=6031 then payment is=65198+6031=71229
5th year=71229*9.25%=6589,then payment after 5 years=71229+6589=77818 this is my view if the case of compounding interest.
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