Homework Answers
Solution :
The Answer is (a) (i) = 2.00%, (n) = 28.
Working :
(i) = Interest Rate Per Annum / No. of Compounded in Year
= 8% / 4
= 2%
(n) = No. of Years * No. of Compounding In a Year
= 7 * 4
= 28
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