Math, asked by bhosaleshravani85, 3 months ago

what should be the interest rate and duration for principle Rs. 500 for 1 year at 12% compounded quarterly?​

Answers

Answered by d200876
5

Answer:

R = 12% N = 1 year

Step-by-step explanation:

If you deposit $500 into an account paying 12% annual interest compounded quarterly , how much money will be in the account after 1 year?

Result:

The amount is $562.75 and the interest is $62.75.

Explanation:

STEP 1: To find amount we use formula:

 

A = total amount

P = principal or amount of money deposited,

r = annual interest rate

n = number of times compounded per year

t = time in years

In this example we have

After plugging the given information we have

 

 

STEP 2: To find interest we use formula , since 562.75  P =  we have:

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