Question #117581

without using finance calculator,

Refer to Johan's investment account, i.e. the monthly deposits made into his investment account:

Year Monthly deposits

2017 SR 500

2018 SR 400

2019 SR 700

Find the value of his investment at the end of 2019 if the investment rate was 12% compounded monthly. Find also the interest earned.

Refer to Johan's investment account, i.e. the monthly deposits made into his investment account:

Year Monthly deposits

2017 SR 500

2018 SR 400

2019 SR 700

Find the value of his investment at the end of 2019 if the investment rate was 12% compounded monthly. Find also the interest earned.

Expert's answer

1)"S=500*\\frac{1.12^{12}-1}{1.12-1}+400*\\frac{1.12^{12}-1}{1.12-1}+700*\\frac{1.12^{12}-1}{1.12-1}=38,612.8"

2)"S^*=38,612.8-500*12-400*12-700*12=19,412.8"

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