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If 40,000 is increased by 5% 24 times what is the new figure and what is the correct calculation

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(1+0.05)^24 = 3.2251
40000 * 3.2251 = 129004
say for 5% u have to do 40000*1.05=42000
for second time 42000*(1.05)=44100
and continue 18 times more
as you see actually you multiply 40000 by (1.05)(1.05)(1.05).........till 20 times
so calculate (1.05) to the power of 20 then multiply by 40000

Posted on Sep 05, 2010

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