griff's answer to .....'s Secondary 3 E Maths Singapore question.
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Rate of 4.9% per annum (yearly). Since it’s compounded monthly so u have to find the monthly rate. Time period is essentially how many times it’s being compounded and in this case it’s 12 x 20 (each year compounds 12 times and for 20 years)
Date Posted:
2 years ago
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