Question:A sum of Two Million, Twenty Thousand and Twenty Ghana Cedis
and Two pesewas was invested...
Question
A sum of Two Million, Twenty Thousand and Twenty Ghana Cedis
and Two pesewas was invested...
A sum of Two Million, Twenty Thousand and Twenty Ghana Cedis
and Two pesewas was invested in a bank account at an interest rate
of 11.375%. Find the amount in the account for each of the
following scenarios:
(a) A simple interest rate for three years;
(b) A compound interest rate for three years compounded
monthly;
(c) A nominal interest rate for three months, assuming the
above interest rate is