Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,153,511 members, 7,819,846 topics. Date: Tuesday, 07 May 2024 at 02:58 AM |
Nairaland Forum / Nairaland / General / Investment / Can You Solve This Retirement Maths? (663 Views)
Invest In Your Future Now To Secure Your Retirement Age / Programmed Withdrawal VS Annuity, Which Is Retirement Plan Is Better? / Great Investment News For Retirement (2) (3) (4)
Can You Solve This Retirement Maths? by Nobody: 9:38am On Aug 15, 2015 |
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). |
Re: Can You Solve This Retirement Maths? by majamajic(m): 9:46am On Aug 15, 2015 |
537,600 |
Re: Can You Solve This Retirement Maths? by Nobody: 9:49am On Aug 15, 2015 |
majamajic: Nice try, but you are wrong. |
Re: Can You Solve This Retirement Maths? by spill(m): 10:23am On Aug 15, 2015 |
walexy30: He is correct abeg |
Re: Can You Solve This Retirement Maths? by Holuwarsehun(m): 2:59pm On Aug 15, 2015 |
1978000 |
Re: Can You Solve This Retirement Maths? by Nobody: 4:24pm On Aug 15, 2015 |
After 20 years you will have N1,998,295.84 |
Re: Can You Solve This Retirement Maths? by freemile2ru: 5:10pm On Aug 16, 2015 |
The questions is not correct, the interest rate should be specified. Is it monthly or yearly? Or overall interest. If it's any of the first two, den it's compound interest which will involve lots of calculation and I don't d luxury of time. Of is the other one. Den it's simple interest. |
Re: Can You Solve This Retirement Maths? by Nobody: 5:23pm On Aug 16, 2015 |
freemile2ru: The interest rate of 12% annually which comes to 1% monthly |
(1) (Reply)
In Need Of Fire Extinguisher Dealers. / * / Invest And Receive 7% Interest Monthly.
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 9 |