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An amount of money is invested at 8% p.a compounded monthly. After fifteen months the interest rate increases to 9,6% p.
Posted: Sun May 29, 2022 4:39 pm
by answerhappygod
- An Amount Of Money Is Invested At 8 P A Compounded Monthly After Fifteen Months The Interest Rate Increases To 9 6 P 1 (42.45 KiB) Viewed 11 times
An amount of money is invested at 8% p.a compounded monthly. After fifteen months the interest rate increases to 9,6% p.a compounded quarterly for a further 9 months. The equivalent rate of interest compounded continuously over the entire two year period is equal to % type your answer... p.a (expressed as a percentage to three decimal places).