Answer:
6
Step-by-step explanation:
We need to evaluate :-
Here the is the sum operator . And here we need to find the sum from n = 1 to n = 4 . We can write it as ,
Now we know that for odd powers of -1 , we get -1 and for even powers we get 1 . Therefore ,
Now add the terms inside the brackets and then multiply it with the number outside the bracket . We will get ,
<u>Hence</u><u> the</u><u> </u><u>required</u><u> answer</u><u> is</u><u> </u><u>6</u><u>.</u>
The effective rate of interest will be 9.10 %.
<h3>What is compound interest?</h3>
Compound interest is applicable when there will be a change in principle amount after the given time period.
Let's say you have given 100 for two years with a 10% rate of interest annually than for the second-year principle amount will become 110 instant of 100.
Given for simple interest
Principle amount = $650
Rate of interest = 12%
Time period = 7 months.
Interest= PRT/100
Interest= 650× 12 × 7/100 = 546
So final amount = 650 + 546 = $1196
By compound interest
1196 = 650
R = 9.10%
Hence the effective rate of interest will be 9.10%.
For more information about compound interest,
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