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Question

If the account statement states that the interest is compounded annually, then $n =$ ?
$1$
$2$
$4$
$8$

A

1

B

8

C

2

D

4

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Solution

Verified by Toppr

If the account statement states that the interest is compounded annually then $y e a r s, t h e a m o u n t i n t h e a c c o u n t w i l l b e a t l e a s t$ .
Annually means $1$ year.

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