A firm will need Rs.300,000 at the end of 3 years to repay a loan. The firm decided that it would
deposit Rs.20,000 at the start of each quarter during these 3 years into an account. The account
would yield 12 percent per annum compounded quarterly during the first year. What rate of interest
should it earn in the remaining 2 years to accumulate enough amount in this account to pay the
loan at the end of 3 years?
Answers
Answered by
0
Answer:
can't understand ..............
Similar questions