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Questions and Answers
At what rate of interest is the single payment compounded quarterly?
At what rate of interest is the single payment compounded quarterly?
- 8% p.a. (correct)
- 12% p.a.
- 6% p.a.
- 10% p.a.
What is the equivalent money payable for the debts?
What is the equivalent money payable for the debts?
- ₹ 1,80,300.45
- ₹ 1,50,200.80
- ₹ 1,70,500.25
- ₹ 1,60,650.61 (correct)
What is the time period for the single payment to be made?
What is the time period for the single payment to be made?
- 6 years
- 7 years
- 5 years (correct)
- 4 years
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Study Notes
Compounded Quarterly Interest
- The interest rate is unknown and needs to be determined
- The interest is compounded quarterly, meaning it is calculated and added to the principal every quarter
Debt Repayment
- There is an equivalent money payable for the debts, but the exact amount is unknown
- The debt repayment involves a single payment
Time Period
- The time period for the single payment to be made is unspecified
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