$100 will become after 20 years at 5% p.a compound interest amount of. .....?
1 Answer
Jun 26, 2018
Explanation:
Compound interest is given by the equation:
where:
#A_0,A_f# are the initial and final amounts of money, respectively
#r# is the rate of compound interest
#n# is the number of years passed
So, we get: