Calculate compound interest on ` 1000 over a period of 1 year at 10% per annum, if interest is compounded quarterly
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Principal =$1000
n=1year = 4 quarters
r=10%=10%/4 per quater
Amount=P×[1+r/100] to power n
A=1000 [1+10/400] to power 4
A=1000×410/400×410/400×410/400×410/400
A=$110381.3
C.I=110381.3-1000=$109381.3
n=1year = 4 quarters
r=10%=10%/4 per quater
Amount=P×[1+r/100] to power n
A=1000 [1+10/400] to power 4
A=1000×410/400×410/400×410/400×410/400
A=$110381.3
C.I=110381.3-1000=$109381.3
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