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24 March, 11:41

Find the value of 1000 at 12% rate if 2 years find the annual compounding

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  1. 24 March, 12:07
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    Value is 169,000.

    Step-by-step explanation:

    Step 1: Given details are Principal (P) = 1000, Rate (r) = 12%, Time (t) = 2 years, Number of times it is compounded (n) = 1 (yearly)

    Find value by using the formula P (1 + r/n) ^n*t

    ⇒ 1000 (1 + 12/1) ^1 * 2

    ⇒ 1000 (13) ²

    ⇒ 1000 * 169

    = 169,000
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