A sum of Rs.3200 invested at 10% p.a. compounded quarterly amounts to Rs.3362. Compute the time period.Options 12 years2 years 34 year1 year
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Solution 1
The formula for compound interest is A = P(1 + r/n)^(nt), where:
A = the amount of money accumulated after n years, including interest. P = principal amount (the initial amount of money) r = annual interest rate (in decimal) n = number of times that interest is compounded per year t = time the mone Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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