Robert retired on 31st December 2016 and received a sum of $ 100000 from the company towards gratuity and other terminal benefits. The company has tied up with their bankers which accepts deposits from retiring employees at 9% interest per year provided the investment is for 5 years and interest is paid along with principal. If Robert decides to invest $100000 for 5 years, how much will he get at the end of 5 years? $ 145000.00 $ 190000.00 $ 153862.40 $ 132920.60
Robert retired on 31st December 2016 and received a sum of $ 100000 from the company towards gratuity and other terminal benefits. The company has tied up with their bankers which accepts deposits from retiring employees at 9% interest per year provided the investment is for 5 years and interest is paid along with principal. If Robert decides to invest $100000 for 5 years, how much will he get at the end of 5 years? $ 145000.00 $ 190000.00 $ 153862.40 $ 132920.60
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Robert retired on 31st December 2016 and received a sum of $ 100000 from the company towards gratuity and other terminal benefits. The company has tied up with their bankers which accepts deposits from retiring employees at 9% interest per year provided the investment is for 5 years and interest is paid along with principal. If Robert decides to invest $100000 for 5 years, how much will he get at the end of 5 years?
$ 145000.00
$ 190000.00
$ 153862.40
$ 132920.60
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