Question

Asked Nov 8, 2019

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Step 1

According to the given information:

**Principal (P) = $3000**

**Amount (A) = $5000**

**Rate of interest = 7.5% per annum **

It is needed to calculate the **time (t)** when compounded quarterly.

Step 2

Formula to calculate the amount when compounded quarterly is:

Step 3

Now, plug the values in the gi...

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