Question

find the rate of interest,per annum(compounded quarterly)at which the principal amount of 1991 becomes 2018 in one quarter​

Answer 1

Answer:

Interest may be compounded on all sorts of time frequencies – daily (365 times a year), monthly (every calendar month or 12 times a year), quarterly (every three months or four times a year), semi-annually (every six months or twice per year) or annually (once a year).