The account in the Indian bank pays a nominal annual interest rate of 5.2 % compounded monthly. Calculate the amount of this investment, in INR, in this account after five years.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
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Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
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The account in the Indian bank pays a nominal annual interest rate of 5.2 % compounded monthly.
Calculate the amount of this investment, in INR, in this account after five years.
Transcribed Image Text:The account in the Indian bank pays a nominal annual interest rate of 5.2 % compounded monthly. Calculate the amount of this investment, in INR, in this account after five years.
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