In: Finance
SORRY ONLY 4 ALLOWED
What would you end up with if you left Tk. 1000 in the account
for 5 years at 8% interest rate?
=1000*1.08^5
=1469.33
You get Tk 50,000 from your uncle. You would like to deposit
this money in Dhaka Bank. At present bank offers 8% interest for
time deposit. How much shall it grow after 10 years? How much it
will be if compounded.
i) Semiannually
=50000*(1+8%/2)^(2*10)
=109556.16
ii) Quarterly
=50000*(1+8%/4)^(4*10)
=110401.98
iii) Monthly
=50000*(1+8%/12)^(12*10)
=110982.01
Your father receives Tk 3,00,000 from selling a property. Now he
would like to Deposit the money in a fixed deposit account. If the
interest rate for such deposit is 12%, then how much he will get
after 5 years?
=300000*(1+12%/2)^(2*5)
=537254.31
How much after 10 years if interest is compounded
semiannually?
=300000*(1+12%/2)^(2*10)
=962140.64
Assume that you need Tk 2000 after 2 years. Your bank compounds
interest at an eight percent annual rate. How much you need to
deposit now to have a balance of Tk 2000.
=2000/(1+8%)^2
=1714.68