Answered: 9. Albert invested an amount of Rs.…

9. Albert invested an amount of Rs. 8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit?

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 2STP

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9. Albert invested an amount of Rs. 8000 in a fixed deposit scheme for 2 years at
compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity
of the fixed deposit?
A. O Rs. 8600
В. O Rs. 8620
С.
Rs. 8820
D. O None of these

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