Plz solve below question, if i deposit 20,000 @ 9.30% roi compounded anually for 30 months what is my maturity

Question

what a fromula u apply

Answer 1

Hi

9.30/400x20000xpress ten times the equal button in your calculator you will get the maturity value.  30 months is 2 years 6 months- a year has 4 quarters-here the no.of quarters is 10. you press equal button 10 times means u find value for 10 quarters-30 months. try and reply.

Answer 2

A = p(1 + r )^ n

A = principal + interest

P = principal you deposit or loan

r  =  interest rate compounded annually

n  = years

A = 20000( 1 + 0.093) ^ 2.5

A = 24979.31

interest earn for 30 months = 24979.31-20000 =4979.31