If Tk. 1000 is invested in an account paying 10% compounded monthly, how much would be the nearst ending balance at the end of 10 years?

A Tk. 2800
B Tk. 2900
C Tk. 3100
D None of these

Correct Answer: None of these

To find the nearest ending balance, we can use the formula for compound interest:A = P * (1 + r/n)(n×t)where: P = Tk. 1,000 (the initial investment) r = 10% (the annual interest rate) n = 12 (compounded monthly) t = 10 yearsPlugging in the values, we get:A = 1000 × (1 + 0.1/12)(12×10) ≈ Tk. 2,594.49Therefore, the nearest ending balance at the end of 10 years is approximately Tk. 2,594.49.So, answer is None.
Bissoy MCQ
#গণিত #সরল ও যৌগিক মুনাফা  (Simple & Compound interest) #Modhumoti Bank Ltd #Modhumoti Bank Ltd - Probationary Officer 06.04.2018

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