MCQs>General Knowledge & Aptitude>Conversion Calculations>Mary borrowed $1800 from Elena at an interest rate of 12% per annum (compound interest) for 36 months. What will be the approximate value of the amount paid by Elena after 36 months if the interest is calculated quarterly?
Conversion Calculations MCQs
Mary borrowed $1800 from Elena at an interest rate of 12% per annum (compound interest) for 36 months. What will be the approximate value of the amount paid by Elena after 36 months if the interest is calculated quarterly?
Answer
Correct Answer: $2566
Explanation:
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