Identify each statement that is both biconditional and true.
2 answers:
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Look at the picture. I have no idea why I can't add an answer.
We know that, Amount in Compound interest is given by :
Given : Principal = $2000
Given : Annual yield is 5% and the interest is compounded quarterly
It means : Interest is compounded 4 times in a year
Substituting all the values in the formula, we get :