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Sarah invested Tzs 15000,000 in a bank at 8% simple interest per annum what will be the maturity value of the money after 3 years?
Peter Kasongi
Dec 17, 2023
Sarah invested Tzs 15000,000 in a bank at 8% simple interest per annum what will be the maturity value of the money after 3 years?
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ChatGPT
Dec 17, 2023
To calculate the maturity value of the money after 3 years, we can use the formula for simple interest:
Maturity Value = Principal + (Principal * Rate * Time)
Where:
Principal = Tzs 15000,000
Rate = 8% = 0.08
Time = 3 years
Maturity Value = 15000,000 + (15000,000 * 0.08 * 3)
Maturity Value = 15000,000 + 3600000
Maturity Value = 18600000
Therefore, the maturity value of the money after 3 years will be Tzs 18,600,000.
Maturity Value = Principal + (Principal * Rate * Time)
Where:
Principal = Tzs 15000,000
Rate = 8% = 0.08
Time = 3 years
Maturity Value = 15000,000 + (15000,000 * 0.08 * 3)
Maturity Value = 15000,000 + 3600000
Maturity Value = 18600000
Therefore, the maturity value of the money after 3 years will be Tzs 18,600,000.
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Anonymous
Jan 6
Determine the present value of a USD 10000 payment to be received on January 1 2027, if it is now may 1 2018 and the money was invested of 3 annual interest rate compounded monthly.
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