Aitee1:



Just one line calculation yet the rest have been solving pages

Others have been solving pages so that folks like you would understand it better.

Aitee1:



Just one line calculation yet the rest have been solving pages

walexy30:


You are funny, this is finance not engineering. No matter how good you are in engineering math, you can't be better than a financial mathematician when it comes to mathematics of finance.

walexy30:


You have to bring it down to month because the depositor pays the money into his account every month not every year.

temidayodamoye:
........Haba! dnt say that again,I think it depends on the institution we all attend(ed),m an engineering student nd I solved d problem in less than 5mins I saw d qstn,tho thanks to my Engineering Economics lecturer cos I wud hv been clueless as well if I had nt taking that course last semester,so twas still kinda fresh...nice one @ op bt hv really seen Lotta funny comments here o...d fact that u claim to hate mathematics doesnt mean we shudnt have common sense(if anyone finds dat harsh,m so sorry)...some1 saved 2000 monthly for 20years, evn without any interest his payback shudnt be less than 480,000 bt pple still claim to be correct with deir answer less than 480k...if dis was an MCQ...u should first delete any option less than that amount bfor u solve....sowi, I had to quote u because u said engr students dsnt knw abt financial stuffs...datz nt always true.

yomifola:
U sef.. wrong


Wrong calling person wrong


Solve urs.. and u go knw say na u wrong pass

Drahl:
19292.58

walexy30:
I save N2000 every month in a bank with an annual interest rate of 12% for 20 years while still working. How much will i receive at the end of the period (20 years).

butanep:
I can solve that maths without using the Op financial formula.

That is normal business mathematics...

segun4christ:
By applying the concept of Arithmetic progression ( A.P) :
where,
The first term a=2000*12= 24000
Common difference d=12/100 *24000 = 2,880.
Then
Sn= n/2 [2a +( n-1)d]
which implies
S20= 20/2 [ 2(24,000) + 19(2880)]
=10(48000+54720)
=#1,027,200

walexy30:
Where are the social science/Mgt Science graduates?

walexy30:

I solved before i created the thread

walexy30:

wrong!

walexy30:
I save N2000 every month in a bank with an annual interest rate of 12% for 20 years while still working. How much will i receive at the end of the period (20 years).

ojmaroni247:
Dis calculation is on a long tin,uhave to calculate for each year and add de interest to de next year and keep calculating until u get to de 20th year.crzy men!