Ans (3) 8.45%
FV = | Future Value |
PV = | Present Value |
r = | rate of interest |
n= | no of period |
FV/ PV = | (1 + r )^n |
12000 / 8000 = | (1 + r%)^5 |
1.5 = | (1 + r%)^5 |
r = | 8.45% |
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