Question

Question 7 How many years will it take for a uniform annual deposit of size A to accumulate to 10 times the size of a single deposit at a rate of return of 10% per year?

Answer 1

Pg No-0 Solution :- Given data : - - F = A/(1+1)" - where A is Annual payment, nis the years number of and I is the Annual Rate of interest → The Standard notation Equation is fe A Cela, in) = 10% 10x - F. Arse 10x==3(-70091] = 10x bil = (1+0ml)" - i 2 = lyn =

Pg No- Apply log on Both Sides, log2 = nlogli 01302 = n (0.0413) n= 0: 302 0.0413 ma 7,312 " Hence, the number of years needed will be in = 7,31 years,