interest rate

abc bank ltd has a policy of continous compounding of fixed deposits. abhishek has deposited rs. 60,000 at the interest rate of 12% for 3 years. how much would his deposit grow upto at the end of the term?
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1 Answer

kompound interest meen yu get exponenshal gro

60,000$ at 12% for 3 yeers=85,999.76$

normal kompound, yu hav (end/start)=[1 +(r/n)]^nt

for exponshal, frakshun=rateint/100...the r in abuv line

fakter1=Math.exp(frakshun)...e raesed tu power=frakshun

fakter2=Math.po(fakter1,numyeer)  for 3 yeers

anser=startdol*fakter2...for all dollars yu put up
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