number of conversation periods in 2 1/2 years when interest is compounded quarterly
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Answer:
conservation periods in 21 by 2 years when interest is compounded quarterly is 1.5 years
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Correct option is
B
one-fourth of the annual rate
As the compound is compounded quarterly, i.e. 4 parts; rate is divided into quarters, quarterly rate being 41th of the annual rate.
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