Abhinav deposited 5500 in bank at 9% per annum for 9 months. Find the amount
received by him, if the interest is calculated quarterly.
Answers
Answered by
5
Answer:
You will have to find compound interest quarterly that means 12/4 for 9 months, which mean 3 times a year.
Future value= Present value(1+r)^n
FV= 5500(1+0.9)^3×12/4
Fv= 11945.3
Step-by-step explanation:
Answered by
4
Answer:
quarterly means 12\4 for 9 months
which mean 3 times a year
future value = present value (1+r)^n
future value =5500(1+0.9)^3×12/4
future value= 11945.3
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