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What was the quarterly interest rate for ismail berhad

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Reference no: EM132647122

On April 1, Year 2016, Ismail Berhad made a deposit of RM 100,000 in a fund and left the fund undisturbed for four years to earn compound interest at a rate which did not change during the four-year period. At the end of the four years, the fund had accumulated to RM 132,088.60. If interest was compounded quarterly, what was the rate of interest earned?

Problem I. What was the quarterly interest rate?

Problem II. What is the Annual Percentage Rate?

Problem III. What is the Effective Annual Rate (EAR)?

Reference no: EM132647122

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