Mr. Naveed wants to invest Rs.8 million for 3 years and he has following options:
Fixed deposit @ 11% annual compounding
Term Certificate @ 9% semi-annual compounding
Saving Scheme @ 10% quarterly compounding
Required:
A. Which investment would he prefer?
B. Calculate effective interest rate for Term Certificate
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Answer:
effective interest is fixed deposit @11 annual compounding. he may mobile accessories
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