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12970. Step by step video, text & image solution for What will Rs. 5000 amount to in 10 years, compounded annually at 10 % per annume ? ["Given "(1.1)^(10)=2.594] by Maths experts to help you in doubts & scoring excellent marks in Class 11 exams.
Invested amount or present value (PV) = $5,000. The future value of the investment is $12,968.71. It is the accumulated value of investing $5,000 for 10 years at a rate of 10% compound interest.
P is the principal amount. r is the annual interest rate (decimal) n is the number of times interest is compounded per year (12 for monthly) t is the time in years.
t = the time period in years (which we want to find)We need to solve for 't':66,550 = 50,000(1 + 0.10/1)^(1*t)Now, we can solve for 't':(1 + 0.10)^t = 66,550 / 50,0001.3310^t = 1.331To solve for 't', take the natural logarithm (ln) of both sides:ln(1.331^t) = ln(1.331)t * ln(1.331) = ln(1.331)Now, divide by ln(1.331) ...
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