Anisha took a lone of 500000 from bank of baroda.if the bank charges interest at 16% per annum compound quarterly what amount will discharge her debt after 1Years
Anonymous:
lone nahi: loan hota hai
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principal=5,00000
Rate =16%
time=1 year quarterly
Amount=p(1+R/100)^T
=500000(1+16/400)^4
=500000(1+1/25)
=500000(26/25)^4
=584929.28
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