compounded three times
5% each time
4630.50 * (1.05)^3
in the second one is it compounded once or twice a year?
if once
4 = (1+x)^2
2 = 1+x
x = 1.00
so 100%
doubles the first year, doubles again the second year.
What will become Rs 4630.50 in 1 and haif years ,if the rate of interest is 10% per annum compounded half yearly?
At what rate per cent does compound interest on a sum of money becomes fourfold in 2 years?
1 answer
2 answers