Answers

2014-11-24T12:02:52+08:00
By using the formula F=Pe^rt
where: F = future worth = 5350
           P= principal worth = 5000
           r = interest = 8%
           t = period = required

5350 = (5000)e^(0.08)t
t = 0.8457 x 12months = 10.15 months
1 3 1
another solution for that S = P(1+ni)
where S = future value = , P = present value, i = interest, n = number of period
therefore, 5350 = 5000(1+n(0.08))
n = 0.875 x 12 months = 10.5 months
ty po ng marame