If you plan to save Rs. 5,000 with a bank at an interest rate of 8% what will be the worth of your amount after 4 years if interest is compounded annually?
A. Rs. 5,400
B. Rs. 5,900
C. Rs. 6,600
D. Rs. 6,802
Answer:D
If you plan to save Rs. 5,000 with a bank at an interest rate of 8% what will be the worth of your amount after 4 years if interest is compounded annually?
A. Rs. 5,400 B. Rs. 5,900 C. Rs. 6,600 D. Rs. 6,802