Find the compound interest on a sum of 12000 at the rate of 8% annually for 1 year compounded quarterly
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CI = P(1+i)^n-P
12000(1+0.02)^4 = ci
compounded quarterly and 8% annual rate
2% per quarter and 1 year 4 quarters
ans: 989.98592
12000(1+0.02)^4 = ci
compounded quarterly and 8% annual rate
2% per quarter and 1 year 4 quarters
ans: 989.98592
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