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WORKSHEET (3.2) Part I
1.
An amount of $100 is deposited in a bank paying an annual interest rate of 12% compounded
annually.
(a)
What is the balance after 1year?
(b) What is the balance after 2years?
(c) What is the balance after 3years?
(d) What is the balance after 4years?
2.
An amount of $100 is deposited in a bank paying an annual interest rate of 12% compounded
.
After 1 year
After 5 years
Annually:
+
=
1
100
A
+
=
1
100
A
Semi annually:
+
=
1
100
A
+
=
1
100
A
Quarterly:
+
=
1
100
A
+
=
1
100
A
Monthly:
+
=
1
100
A
+
=
1
100
A
Weekly:
+
=
1
100
A
+
=
1
100
A
daily:
+
=
1
100
A
+
=
1
100
A
Hourly:
+
=
1
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 '10
 Arabhi,Sundararajan

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