Joy deposited

Joy deposited the sum of 50,000 in her bank account. After 5 months, she made another deposit of 125,000 and 6 months a lap before the withdrawal of 12,000 nairas. If the interest rate is 5% per annual, calculate how much she should have in her account.

Correct answer:

x =  168497.745

Step-by-step explanation:

a=50000 r1=5%=1005=201=0.05 r2=1+r1/12=1+0.05/12=240241=124011.0042  b=125000 c=12000  x5=a r25+b=50000 1.00425+125000176050.3835 x13=x5 r26=176050.3835 1.00426180497.745  x=x13c=180497.74512000=168497.745

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