What is the future value of Rs. 18000 compounded quarterly for 2 years, if ROI be 8
percent? (Round off the answer to the nearest hundred)
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Answer:
Rs.19880.75
Step-by-step explanation:
A = P (1 + R/100)ⁿ
Given,
Principal = Rs.18000
Time = 2 years
Rate = 5% p.a.
=> A = 18000 (1 + 5/400)⁸
=> A = 18000 (81/80)⁸
=> A = Rs.19880.75
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