The compound Interest on 2000 for 9 months at 8% per annum being even when the rekond quarterly’s Rs.122 b. 130 c.

Question

The compound Interest on 2000 for
9 months at 8% per annum being
even when the rekond quarterly’s
Rs.122
b. 130
c. 150
d. 1215​

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Amara 6 days 2021-10-11T12:28:30+00:00 1 Answer 0 views 0

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    2021-10-11T12:30:14+00:00

    Answer:

    The annual interest rate is restated to be the quarterly rate of i = 2% (8% per year divided by 4 three-month periods). The present value of $10,000 will grow to a future value of $10,824 (rounded) at the end of one year when the 8% annual interest rate is compounded quarterly.

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