Question
i) Jones Ltd invests 230,000 at 3% compound interest for five years. What will be the value of the investment after five years? ii)Tips Ltd
i) Jones Ltd invests £230,000 at 3% compound interest for five years. What will be the value of the investment after five years?
ii)Tips Ltd has received £102,829 after investing for 7 years at an annual interest rate of 8%. What was the original amount they invested?
iii) Rates Ltd invests £27,000 and after 8 years it has received £45,000. The interest rate the bank applied to the deposit changed each year. Using the geometric mean method, calculate the average annual interest rate.
Step by Step Solution
3.38 Rating (145 Votes )
There are 3 Steps involved in it
Step: 1
Ti n John Ltd invested amount PV 230000 8 interest 8 3 value Rate Valu...
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
