Find the amount and compound interest on Rs 12000 at the rate of 4%per annum for 9 months compounded quarterly?
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Answered by
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compound interest formula = A=P(1+r/n)^nt
P = principal amount (the initial amount you borrow or deposit)
r = annual rate of interest (as a decimal)
t = number of years the amount is deposited or borrowed for.
A = amount of money accumulated after n years, including interest.
n = number of times the interest is compounded per year
NOW APPLYING THE FORMULA ANSWER WILL COME
P = principal amount (the initial amount you borrow or deposit)
r = annual rate of interest (as a decimal)
t = number of years the amount is deposited or borrowed for.
A = amount of money accumulated after n years, including interest.
n = number of times the interest is compounded per year
NOW APPLYING THE FORMULA ANSWER WILL COME
Answered by
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Answer:
compound interest formula = A=P(1+r/n)^nt
P = principal amount (the initial amount you borrow or deposit)
r = annual rate of interest (as a decimal)
t = number of years the amount is deposited or borrowed for.
A = amount of money accumulated after n years, including interest.
n = number of times the interest is compounded per year
NOW APPLYING THE FORMULA ANSWER WILL COME
Step-by-step explanation:
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