- 1 Marks
QTB – May 2015 – L1 – SA – Q1 – Mathematics
Calculating how long it takes for N500 to appreciate to N10,000 at 5% continuous interest.
Question
The present value of NA to be paid in t years in the future (assuming 5% continuous interest rate) is P (A, t) = Ae^0.05t. How long will it take N500 to appreciate to N10,000?
A. 5.99 years
B. 26.00 years
C. 52.00 years
D. 59.91 years
E. 599.10 years
Find Related Questions by Tags, levels, etc.
- Tags: Continuous Interest, Present Value, Time value of money
- Level: Level 1
- Topic: Mathematics
- Series: MAY 2015
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