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Find the rate at which a sum of money wi...

Find the rate at which a sum of money will become four times the original amount in 2 years, if the interest is compounded half-yearly.

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To find the rate at which a sum of money will become four times the original amount in 2 years with interest compounded half-yearly, we can follow these steps: ### Step 1: Understand the problem We need to find the rate of interest (r) that will make the principal amount (P) grow to four times itself (4P) in 2 years when compounded half-yearly. ### Step 2: Identify the variables - Let the principal amount be \( P \). - After 2 years, the amount becomes \( 4P \). ...
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