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Step-by-step Answer
PAGE: 318SET: ExercisesPROBLEM: 7
Please look in your text book for this problem Statement

Principal Income is .

Rate of interest .

Time period is years.

Find the amount compounded quarterly by using compound interest formula:

.

For quartely compounded .

Substitute all the values in the equation.

  

  

   

Therefore,the total amount after two years compounded quarterly with interest of is .

The total amount after two years compounded quarterly with interest of is.



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