Ruth deposited sh20,000 in a fixed deposit account for a period of 1½ years. The bank pays compound interest on quarterly basis. At the end...

      

Ruth deposited sh20,000 in a fixed deposit account for a period of 1½ years. The bank pays compound interest on quarterly basis. At the end of this period her account had shs46,200. Determine the rate at which interest was paid per annum.

  

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Kavungya
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Kavungya answered the question on September 19, 2019 at 09:07


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