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Please Help Solve This Maths (compound Interest) - Education - Nairaland

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Please Help Solve This Maths (compound Interest) by felsunseg(m): 12:32pm On Mar 18, 2015
a man invest 100 at the end of 2001, 200 at the end of 2002,300 at the end of 2003,400 at the end of 2004,500 at the end of 2005. If all interest accummulate at 5 percent par annum. What do his investment amount to at the end of 2006.
Re: Please Help Solve This Maths (compound Interest) by NextProdigy(m): 12:34pm On Mar 18, 2015
1684.02
Re: Please Help Solve This Maths (compound Interest) by felsunseg(m): 12:55pm On Mar 18, 2015
NextProdigy:
1684.02
the steps pls and the answer @ d back of the txt book says 15,075.57
Re: Please Help Solve This Maths (compound Interest) by felsunseg(m): 6:51pm On Mar 18, 2015
NextProdigy:
1684.02
sorry bro i just confirmed that the answer is correct, bt i need the working steps
Re: Please Help Solve This Maths (compound Interest) by NextProdigy(m): 10:50am On Mar 25, 2015
felsunseg:
a man invest 100 at the end of 2001, 200 at the end of 2002,300 at the end of 2003,400 at the end of 2004,500 at the end of 2005. If all interest accummulate at 5 percent par annum. What do his investment amount to at the end of 2006.

2001 100 @5% = 105
2002 (105+200) 305 @5% = 320.25
2003 (320.25+300) 620.25 @5% = 651.2625
2004 (651.2625+400) 1051.2625 @ 5% = 1103.825625
2005 (1103.825625+500) 1603.825625 @5% = 1684.01690625
2006 1684.01690625 is approximately 1684.02

smiley
Re: Please Help Solve This Maths (compound Interest) by felsunseg(m): 10:58pm On Mar 27, 2015
NextProdigy:


2001 100 @5% = 105
2002 (105+200) 305 @5% = 320.25
2003 (320.25+300) 620.25 @5% = 651.2625
2004 (651.2625+400) 1051.2625 @ 5% = 1103.825625
2005 (1103.825625+500) 1603.825625 @5% = 1684.01690625
2006 1684.01690625 is approximately 1684.02

smiley
txs im really greatful

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