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CBSE Class 11-science Answered

thank you.
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Asked by Chawlakirti94 | 05 Apr, 2019, 06:18: PM
answered-by-expert Expert Answer
Elliott's interest is compounded every month. 
Hence amount after 6 months for Elliott =  5000×[ 1 + (  12 / (12×100) ) ] = $ 5307.60
Hence Elliott's interest = $307.60
 
Feye's interest is compounded every quarter of the year
Hence amount after 6 months for Feye  = 5000×[ 1 + (  12 / (4×100) ) ] =  $5304.50
Hence Feye's interest = $304.50
Answered by Thiyagarajan K | 06 Apr, 2019, 03:44: PM

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