document.write( "Question 1039589: How many rupees will be the compound interest on Rs 16000 for 9 months at 20% per annum compounded quarterly ? \n" ); document.write( "

Algebra.Com's Answer #654356 by addingup(3677) $\"\"$ $\"About$

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Using the compound interest formula (this formula adds the interest to your amount but using it means one less formula to memorize)
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\n" ); document.write( "16000(1+0.20/4)^3 =
\n" ); document.write( "16000(1.1576) = 18521.60
\n" ); document.write( "18521.60-16000 = 2521.60 Rs.
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\n" ); document.write( "Finding the compound interest only:
\n" ); document.write( ":
\n" ); document.write( "16000[((1+0.20/4)^3)-1]
\n" ); document.write( "16000(1.1576-1)
\n" ); document.write( "16000*0.1576 = 2521.60
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\n" ); document.write( "Either way works, whatever is easier for you to memorize.
\n" ); document.write( "John \n" ); document.write( "

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