ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Aaron deposited $3, 000 into a savings account. How much will Aaron have in his account after 5 months at an annual compound interest rate of 3¼%?
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$3040.25
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$40.25
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$4159.70
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$5482.14
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Explanation:
Detailed explanation-1: -Calculate the compound interest for ₹25, 000 for 3 years at the rate of 6% per annum compounded annually. A. 4775.40.
Detailed explanation-2: -Answer. ∴ CompoundInterest=Rs. 4775.40.
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