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nicolas deposits 13 640 000 in a financial institution with a return variable so that the first year you get a 19 5 profit

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Nicolas deposits $13,640,000 in a financial institution with a return variable, so that the first year you get a 19.5% profit and the second year 2.1%. If Nicholas does not withdraw the interest the first year, how much money does he withdraw at the end of the 2 years?

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Answer to a math question Nicolas deposits $13,640,000 in a financial institution with a return variable, so that the first year you get a 19.5% profit and the second year 2.1%. If Nicholas does not withdraw the interest the first year, how much money does he withdraw at the end of the 2 years?

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92 Answers

1. Calculate the amount after the first year:

13,640,000 \times 1.195 = 16,300,300

2. Calculate the total amount after the second year:

16,300,300 \times 1.021 = 16,652,407.3

Therefore, at the end of 2 years, Nicolas can withdraw approximately

16,652,407.30

.

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