MCQs > General Knowledge & Aptitude > Conversion Calculations > Sonia borrowed $62500 from a bank for 48 months. If the rate of interest per annum is 16% then what is the approximate value of compound interest paid by Sonia at the end of 48 months?

Conversion Calculations MCQs

Sonia borrowed $62500 from a bank for 48 months. If the rate of interest per annum is 16% then what is the approximate value of compound interest paid by Sonia at the end of 48 months?

Answer

Correct Answer: $50665

Explanation:

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