Question

What will be the 46000 invested for 9 months at 5% rate interest pa compounded quarterly

Answer 1

Answer:

Amount balance is ₹47,746.65

Step-by-step explanation:

Initial balance (P) = ₹46,000

Interest Rate (r)= 5% pa

Term (t) = 9 months

Compounding frequency (n) = quarterly

Amount balance (A) = P

                                 = 46000 × $(1+ \frac{0.05 }{4} )^{4* \frac{3}{4} }$

                                 = 46000 × $(1+ \frac{0.05 }{4} )^{3 }$

                                 = 718.75 × $4.05^{3}$

= ₹ 47,746.65234375

The total compound interest is 1,746.65

Amount balance is 47,746.65