Question

If you deposit ₹4500 at5% annual interest , compounded quarterly, how much money will be in the account after 1 year?

Answer 1

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Answer 2

p=4500rs
r%=5/4%
t=(12/4)times=3times
a=p(1+r/100)^t
a=4500(1+5/400)^3
a=4500(81/80)^3
a=(4500× 81× 81× 81)/ 80× 80× 80
a=23914845/640
a=37366.95rs