Solved IB Security Assistant Question
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Q · Compound IntetrestModerate · 45s
₹16,000 becomes ₹18,522.24 in 1 year when compounded quarterly. Find the annual nominal rate.
TopicCompound Intetrest
Question Typemultiple choice
DifficultyModerate
Marking+1 / −0.25
From TestChapter Test 1 (Chapter Test)
Test Duration30 min
Step-by-Step Solution
The complete worked solution.
Every step explained — no skipped algebra.
(1+r/4)^4 = 18522.24/16000 ⇒ r ≈ 14.91% p.a.
Final Answer: Option A — 14.91%