Ask Singapore Homework?

Upload a photo of a Singapore homework and someone will email you the solution for free.



Question

secondary 3 | E Maths
One Answer Below

Anyone can contribute an answer, even non-tutors.

Answer This Question
Shan Kuek
Shan Kuek

secondary 3 chevron_right E Maths chevron_right Singapore

Do help me out!! I’m stuck

Date Posted: 2 months ago
Views: 21
Eric Nicholas K
Eric Nicholas K
2 months ago
4.2 percent per annum = 1.05 percent per quarter

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.
Eric Nicholas K
Eric Nicholas K
2 months ago
So, P + 96.60 = P times (1 + 1.05/100)^4

We need to solve a linear equation involving P.

See 1 Answer

done {{ upvoteCount }} Upvotes
clear {{ downvoteCount * -1 }} Downvotes
Eric Nicholas K
Eric Nicholas K's answer
2000 answers (Tutor Details)
1st