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secondary 3 | E Maths

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Do help me out!! I’m stuck

We need to use this figure as the compounding frequency is 4 times per year. So r = 1.05/100.

There are a total of 4 compounding periods in 1 year since the compounding frequency is 4 times per year. So n = 4.

Initial sum is P. Final sum is P + 96.60.

We need to solve a linear equation involving P.

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