ECONOMICS (CBSE/UGC NET)

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ECONOMICS

COMPOUND INTEREST

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
You invest $400 for 5 years and the interest rate is 4.29% each year. Select the correct equation.
A
y=400(1-0.0429)5
B
y=400(1+.0429)5
C
y=400(1+ 4.29)5
D
y=400e0.049*5
Explanation: 
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