00:01
In this question we have given, p is equal to 8 ,000, that is principal, rate is equal to 5 % per annum and time is equal to 8 years.
00:27
In first part, we have to find the amount in the bank after 8 years if interest is compounded annually.
00:39
In first part, when interest is compounded annually, compounded annually, what is the formula for amount? a is equal to p1 plus r divided by 100 power n.
01:18
Put the values.
01:22
A is equal to 8 ,000 1 plus 5 divide by 100 power 8.
01:31
Solve this 8 ,105 divided by 100 8.
01:43
After solving this, we are getting our amount that is equal to 11819 .636.
01:55
This is the answer for first part.
02:08
In second part we have to find the amount in the bank after eight years if interest compounded quarterly when interest compounded quarterly then formula is a is equal to p1 plus r divide by 4 divide by 100 power 4 in put the value a is equal to 8 ,000 1 plus 5 divide by 4 divide by 100 multiplied power 4 multiplied by 8 from here we can write a is equal to 8000 1 plus 1 .25 divide by 100 power 4 multiplied by 8 this can written as 8 ,000 100 ,101 .25 divide by 100 power 32.
03:59
After solving this, we are getting our answer, that is, a is equal to 11905 .0441.
04:14
This is the answer for second part.
04:22
In third part, in third part, we have to find the amount if interest is compounded monthly.
04:40
When interest compounded monthly, the formula is a is equal to p multiplied by 1 plus r divided by 12 divided by 100 power 12 multiplied by n.
05:05
Put the values 8 ,000 1 plus 5 divide by 12 divide by 100, 12 multiplied by 8.
05:24
Simplify this 8 ,000 .416 divided by 100 multiplied by power 96...