Mathematics for FinanceMTP May 20Question 1509 of 422
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A person invests $500$ at the end of each year with a bank which pays interest at $10\%$ p.a C.I. annually. The amount standing to his credit one year after he has made his yearly investment for the $12^{th}$ time is, Given $(1.1)^{12} = 3.1384$.

Options

A$11,761.36$
B$10,000$
C$12,000$
Dnone of these
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Correct Answer

Option a$11,761.36$

All Options:

  • A$11,761.36$
  • B$10,000$
  • C$12,000$
  • Dnone of these

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