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1. Mohona deposits Tk 10,000 into a savings account that pays interest at an annual rate of 8%, compounded quarterly. After 6 months, how much interest has Mohona earned?
- A. Tk 200
- B. Tk 200
- C. Tk 200
- D. Tk 200
Answer: Option C
Explanation:
C = P ( 1 + r/t) nt
= 10000 ( 1 + 0.08/4) 1/2 ×4
= 10404
Interest = C - P = 10404 - 10000 = 404 Tk
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