Question

How much will you have in 48 months if you invest $73 a month at 12​% annual​ interest?

Answer 1

	A/c balance after 48 months	P×[(1+r)^n-1]÷r
	Here,
1	Interest rate per annum	12%
2	Number of years	4
3	Number of payments per per annum	12
1÷3	Interest rate per period ( r)	1%
2×3	Number of periods (n)	48
	Payment per period (P)	$                                  73
	A/c balance after 48 months	$          4,469.25
		73*((1+1%)^48-1)/1%