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Q: A bank offers 9.2% compound interest per annum calculated on a half-yearly basis. A customer deposits `2907 each on 1 January and 1 July of a year. At the end of the year, the amount he would have gained by way of interest is ........... [Give your answer correct to 2 decimal places.]
  • A. `395.33
  • B. `399.22
  • C. `407.31
  • D. `417.31
Correct Answer: Option C -
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Explanations:

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