Principle = $20000 , rate = $20% per annum compounded quarterly , time = 1 year
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- Principle = $ 20000
- Rate = 20%
- Time = 1 year.
Amount = P[1+r/400]⁴ⁿ
= $ 20000[ 1+20/400]⁴
= $ 20000[21/20]⁴
= $ 20000 x 194481/160000
= $ 24310.125
Amount = $ 24310.125
CI = A-P = 24310.125 - 20000 = $4310.125
Thank u.
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