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Q. |
If interest is paid more than once in a year, ‘i’ is the rate of interest per year, ‘n’ is the number of periods in years and ‘m’ is a number of periods per years, compound amount factor (CAF) is: |
A. | (1 + i/m)n |
B. | (1 + i/n)m |
C. | (1 + i/n)1/m |
D. | (1 + i/m)1/n |
Answer» A. (1 + i/m)n |
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