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27%
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A sum of money is borrowed at 12% per annum interest rate for one year. The interest is calculated after the end of every two-month period and is added to the amount accrued after a period. The amount payable after the end of the year is how many times the sum borrowed?
(A) 1.12
(B) (1.12)^5
(C) (1.02)^6
(D) (1.02)^5
(E) (1.12)^6
(A) 1.12
(B) (1.12)^5
(C) (1.02)^6
(D) (1.02)^5
(E) (1.12)^6
27 Jun 2022, 13:00
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Compounded interest rates.
Amount is equals principle times 1 plus interest divided by period to the power of how many times the period is applied.
Amount is equals principle times 1 plus interest divided by period to the power of how many times the period is applied.
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