Answer:
RS 44,000
Step-by-step explanation:
The compound interest formula is FV = PV(1 + r)ⁿ. Where FV = Future value, PV = present value, r = rate and n = no of years.
Since Purnima loans RS 100,000, PV = 100,000. Which is the amount she lends to her friend. She lends to her friend at a rate of 10% compound half yearly which equals r = 10% ÷ 1/2 year = 20% per year = 0.2. Since she lends her friend for two years, n = 2.
So, FV = PV(1 + r)ⁿ = 100,000(1 + 0.2)² = 100,000(1.2)² = 144,000
So, her profit is FV - PV = 144,000 - 100,000 = RS 44,000
Answer:
You can use a calculator for the decimal operations, but practice some by hand because on the quiz and the test you will not have a calculator.
Step-by-step explanation:
Given:
Amount in the bank account = $1850
Monthly payment of can loan = $400.73
To find:
When would automatic payments make the value of the account zero?
Solution:
Craig stops making deposits to that account. So, amount $1850 in the bank account is used to make monthly payment of can loan.
On dividing the amount by monthly payment, we get

It means, the amount is sufficient for 4 payment but for the 5th payment the amount is not sufficient.
Therefore, the 5th automatic payments make the value of the account zero.
Answer:
5% I think
Step-by-step explanation:
Its mostly just a guess but I think its 5%