Mr. lam deposits $ 35000 in a bank at an interest rate of 2%p.a. for one year. Find the interest he may earn if it is compounded quarterly.
How to do it?
maths
2012-01-05 1:08 am
回答 (1)
2012-01-05 1:30 am
✔ 最佳答案
Principal =$35000 n=4 (quarterly) & R= 2%/4 =0.5%Amount= $35000x(1+0.5%)^4 =$35705.26752
Amount- principal =$35705.26752-$35000
=$705.26752
Therefore, the interest Mr. lam may earn is $705.26752
收錄日期: 2021-04-16 13:55:23
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