₹3,000 is put into a fund at the end of every quarter for 2 years, at 8% a year compounded quarterly. To the nearest rupee, how much is in the fund at the end? (Take $(1.02)^{8} = 1.171659$ .)

₹6,437Correct answerYour answer₹24,000Correct answerYour answer₹25,749Correct answerYour answer₹26,013Correct answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer C

Correct answer: C

Worth noting

₹6,437 uses the yearly rate, 0.08, with 8 quarterly periods.

Ten questions from Perpetuity, Sinking Funds & Bonds, at your own pace.

Ten questions from Perpetuity, Sinking Funds & Bonds, at your own pace.

₹3,000 is put into a fund at the end of every quarter for 2 years, at 8% a year compounded quarterly. To the nearest rupee, how much is in the fund at the end? (Take (1.02)8=1.171659(1.02)^{8} = 1.171659(1.02)8=1.171659.)