Solved IB Security Assistant Question
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Q · Compound IntetrestModerate · 45s
Find the amount of $5000 at 6% p.a. compounded quarterly for 2 years.
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.
A = 5000(1+0.06/4)^(8) = $5632.46.
Final Answer: Option A - $5632.46