find the compound interest on rupees 31250 for 9 months at 16 % per annum compounded quarterly
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Answered by
18
Answer:
Hello there!
If needed any explanation, feel free to ask.
Step-by-step explanation:
P= 31250, r(quarterly) = 16/4 = 4% = 0.04
t= 9 months, therefore in 9 months there will be 3 compounding every 3 months, n= no of compounding in 9 months = 3.
A= P(1+ r%)^(n)
A= 31250( 1.04)^(3 )
A= 35152
CI = A-P = 3902
Hope it helps !
Answered by
2
Answer:
no I don't think that this is righr
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