Homework Answers
The bank gives compound interest ,so it will in form:
X*(1+i)^t=z
Where x is initial deposit
i is interest rate
t is time period
Z is total sum in bank after period t
So according to question,
X*(1+0.05)^10=100,000
X*(1.05)^10=100,000
X*1.629=100,000
X=100,000/1.629=61,387.5
Option A is right,
Note the real (1.05)^10=1.62889462678
And after dividing 100,000/1.62889462678=61,391.3
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balance statement and book balance statement?
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reconciliation? I checked the answer key but they didn't include
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Thanks
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balance statement and book balance statement?
Please explain why 11,352 is not included in the bank
reconciliation? I checked the answer key but they didn't include
that number.
Thanks
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