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Question

Find conversion periods for 63 months, if the interest on the principal is compounded quarterly.


A
12
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B
18
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C
24
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D
21
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Solution

The correct option is D 21
Time = 63 months
As per questions, rate is compounded quarterly.
Quartely = 124=3
So, for 63 months, the number of conversion periods = 633=21

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