Question

Rs 10000 deposit into SBI for 3 year at 8% rate of interest Compounded semi annually?
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Answer 1

Answer:

You start with 10000 today.

After one year your invested money would have grown to 10800 at end of year one.

At end of year 2 your money would have grown to 10800*1.08 = 11664.

At end of year 3 your money would have grown to 11664*1.08 = 12597.12

Explanation:

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