let the quarterly rate be j
1000(1+j)^20 = 2000
(1+j)^20 = 2
1+j = 2^(1/20) = 1.035265
j = .035265
the annual rate compounded quarterly is .14106
= 14.1 %
(good luck finding that these days)
at what rate of interest per annum,the amount of 10000 will be doubled in 5 years,interest being compounded quarterly
2 answers
no problem. go to any bookie or loan shark!