Homework Answers
Ans)
| Particular | Workings | Amount |
| Balance as on Feb (2/28 | 5000*((1+5/100)^2) |
5050.125 |
| Baalnce as on May(5/31) | (5050.125+1000)*((1+5/100)^3) | 6141.331 |
| Balance as on Sept (9/30) | (6141.331-500)*((1+5/100)^4) | 5755.006 |
| Balance as on Nov (11/30) | (5755.006-500)*((1+5/100)^2) | 5307.687 |
| Balance as on Dec (12/31) | (5307.687-5000)*((1+5/100)^1) | 4831.725 |
Beginning Balance for next year = $4831.725 or $4831.72
Note: Above calculatiom is done upto 3 decimals point
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