MCQs>General Knowledge & Aptitude>Conversion Calculations>Daniel borrowed a certain amount of money from a bank at a quarterly rate of 2.5% for 4 years. If the interest paid by him after 4 years is $624 then what is the value of principal amount?
Conversion Calculations MCQs
Daniel borrowed a certain amount of money from a bank at a quarterly rate of 2.5% for 4 years. If the interest paid by him after 4 years is $624 then what is the value of principal amount?
Answer
Correct Answer: $1560
Explanation:
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