Homework Answers
| Asad | 14,197.10 |
| Bob | 12,790.18 |
| Statement showing Computations | |
| Particulars | Amount |
| Asad | |
| Amount invested | 5,000.00 |
| Time in years | 10.00 |
| Rate of interest | 11% |
| Amount after 10 years= 5000*(1.11)^10 | 14,197.10 |
| Bob | |
| Amount invested after 1 year | 5,000.00 |
| Time in years | 9.00 |
| Rate of interest | 11% |
| Amount after 10 years= 5000*(1.11)^9 | 12,790.18 |
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