6. Ahmed has a recurring deposit account in a bank. He deposits *2500 per month for 2 years.
If he gets 66250 at the time of maturity, find:
(i) the interest paid by the bank
To (ii) the rate of interest. )
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Answered by
23
Answer:
I = MV - nx
I = 66250-(2500*24)
I=66250-60000
I = 6,250
6250 = 2500*24*25*R/2*12*100
6250=625R
R =10%
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Answered by
16
Step-by-step explanation:
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