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Step-by-step Answer
PAGE: 319SET: ExercisesPROBLEM: 11
Please look in your text book for this problem Statement

Principal Income is  

Rate of interest .

Time period is years.

Find the Total amount when compounded daily by using compound interest  formula:

.

For monthly compounded .

Substitute all the values in the equation.

  

  

 

Therefore,the total amount after three years compounded daily with interest of is .

The total amount after three years compounded daily with interest of is .



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