Major Hint:
Did you notice that from 16 April to 16 Oct is 6 months?
So your time can be very easily expressed in half-years, and quarter-years.
From all the knowledge you have gained by having received many answers for similar questions to the above, you should now be able to take it from there.
Let me know what you got, and how you did it.
10.On 16 April 1990, $5000 was invested at 6% compounded semi annually.Find the amount accumulated on 16 October 1993 if the rate was charged to 8% compounded quarterly beginning 16 april 1992.
semi annualy compounding= (2 times in years)
quarterly compounding= (4 times in a year)
how to solve this problem ?i cant understand
2 answers
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1 answer