Adam place RM2, 000 in a saving account paying 5% interest compounded annually, how much will Adam account accrue to in 10years and 15years
P = Po(1+r)^n.
Po = $2000. = Initial investment.
n = 1Comp./Yr * 10yrs = 10 Compounding
periods,
r = 0.05 = Annual % rate.
P = 2000(1.05)^10=$3257.79 After 10 yrs.
Repeat above procedure for 20- Yr
investment.