You are returning from a trip to England with €100 euro. The exchange rate is USD/EUR 1.3847 . How much in US dollars should you
1 answer:
You might be interested in
Answer:
Amount pay after one year for compounded quarterly = Rs 5627.54
Step-by-step explanation:
Given as,
Manu took loan of Rs 5000 , So, Principal = Rs 5000
The rate of interest applied = 12% per annum compounded quarterly
The loan took for period of year = one
Now from the compounded method :
For compounded quarterly
Amount = principal
Or, Amount = Rs 5000
Or, Amount = 5000
Or, Amount = 5000 × 1.1255
∴ Amount = Rs 5627.54
Hence , The amount which Manu pay after one year at 12% per annum compounded quarterly is Rs 5627.54 Answer