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What would sh. 30000 amount to after three years at 16% p.a. compounded quarterly?

What would sh. 30000 amount to after three years at 16% p.a. compounded quarterly?

Answers

For every year, period of interest are 4 in three years then one will have 12 interest period thus n= 12 rate R = (16/4)% = 4%, P=sh. 30000
A = sh. 30000(1 +4/100)^12
= 30000 x 1.04^12
=sh. 48030.97

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joseph rimiru answered the question on November 16, 2017 at 19:05

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