Q15Multiple choice
A sum is taken for two years at 16% p.a. If interest is compounded after every three months, the number of times for which interest is charged in 2 years is
- (a)8
- (b)4
- (c)6
- (d)9
Show answer
(a) 8
A sum is taken for two years at 16% p.a. If interest is compounded after every three months, the number of times for which interest is charged in 2 years is
(a) 8