Question

Find commpound interestof 12000 for 9 months , 20% compounded annually calculated quarterly

Answer 1

$c.i = p { |(1 + r) {}^{n} | } - 1$
$= 1200 |(1 + 20) {}^{9 \div 12} | - 1$
$= 1200 \times 9.81 - 1$
$= 11771$