PROBLEMS A SIMPLE INTEREST
3. The effective rate equivalent to nominal rate of 6% compounded monthly is: a. 6.05 b. 6.16 c. 6.26 d. 6.07. 4. A company establishes a sinking fund to provide for the payment of Rs.2,00,000 debt maturing in 20 years. Contributions to the fund are to be made at the end of every year. Find the amount of each annual deposit if interest is 5% ... ................
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