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Author Topic: Urgent doubt!  (Read 3343 times)

Offline rainbowtiara24

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Urgent doubt!
« on: May 09, 2011, 05:24:22 am »
When they ask us to calculate compound interest for 3 months do we convert it into years ????
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Offline NotAbod

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Re: Urgent doubt!
« Reply #1 on: May 09, 2011, 07:23:14 am »
Quote from: princess12 on May 09, 2011, 06:07:25 am
we donot have to convert in years
we do have to convert it to years!!!
divide 3 by 12
12 months :P
3/12 is 1/4 years
YOU HAVE TO CONVERT IT TO YEARS!!!
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Offline SauD~

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Re: Urgent doubt!
« Reply #2 on: May 10, 2011, 01:44:18 pm »
Quote from: rainbowtiara24 on May 09, 2011, 05:24:22 am
When they ask us to calculate compound interest for 3 months do we convert it into years ????
sorry very late :P
But no worries question didn't came...

And No not always...
If in the question they mentioned 3% per annum.. then you have to use 3/12
and if the question comes 3% monthly... then you have to use 3 itself
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Offline rainbowtiara24

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Re: Urgent doubt!
« Reply #3 on: May 14, 2011, 07:59:43 am »
Luck was on my side ! ;) but what if they don't mention anything like just say 3 % ?
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Offline SauD~

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Re: Urgent doubt!
« Reply #4 on: May 14, 2011, 11:10:16 am »
Quote from: rainbowtiara24 on May 14, 2011, 07:59:43 am
Luck was on my side ! ;) but what if they don't mention anything like just say 3 % ?
They would definitely mention that... it would be either like 3% annually or 3% monthly or 3% per annum or etc :)
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Offline rainbowtiara24

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Re: Urgent doubt!
« Reply #5 on: May 15, 2011, 04:04:59 am »
Thank you ! good luck ! :)
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Offline SauD~

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Re: Urgent doubt!
« Reply #6 on: May 15, 2011, 10:01:02 am »
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