After 23 years $125.32 will be matured to $46,683.28.
The formula for Recurring maturity is given by:
[tex]A=Pn +\frac{ P*n*(n+1)}{24} *\frac{r}{100}[/tex]
Where A=matured amount
P =Principal value
n=Number of months
r=Interest rate(annual)
We have P= $125.32
n=23*12 = 276 months
r=2.5*12 =30%
Put these values in the above formula
we get A= $46,683.28
Therefore, After 23 years $125.32 will be matured to $46,683.28.
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