Get detailed and accurate answers to your questions on IDNLearn.com. Discover in-depth answers to your questions from our community of experienced professionals.
After 23 years $125.32 will be matured to $46,683.28.
The formula for Recurring maturity is given by:
[tex]A=P_n\dfrac{p\times n \times(n+1)}{24}\times \dfrac{r}{100}[/tex]
Where A=matured amount
P =Principal value
n=Number of months
r=Interest rate(annual)
We have P= $125.32
n=23*12 = 276 months
r=2.5*12 =30%
Put these values in the above formula
we get A= $46,683.28
Therefore, After 23 years $125.32 will be matured to $46,683.28.
To get more about recurring deposits visit:
brainly.com/question/25528036