Can You Solve This Retirement Maths? - Investment - Nairaland
Nairaland Forum › Nairaland General › Investment › Can You Solve This Retirement Maths? (764 Views)
| 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 |
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