To solve question 3:

Given:

• Principal deposit ($P$) = Rp 75,000,000
• Future value ($FV$) = Rp 80,429,918.55
• Time ($t$) = 2 years
• The interest rate ($r$) is calculated annually with monthly compounding.

Formula:

The formula for compound interest with monthly compounding is:

$FV = P \times \left(1 + \frac{r}{12}\right)^{12 \times t}$

Rearranging for $r$:

$r = 12 \times \left[\left(\frac{FV}{P}\right)^{\frac{1}{12 \times t}} - 1\right]$

Substituting values:

$P = 75,000,000, \quad FV = 80,429,918.55, \quad t = 2$

Let me calculate thisP = 75000000 # Principal in IDR FV = 80429918.55 # Future Value in IDR t = 2 # Time in years

Calculate annual interest rate with monthly compounding

r = 12 * ((FV / P)**(1 / (12 * t)) - 1)

r_percentageThe annual interest rate provided by the bank is approximately 3.50% per year.

Would you like further explanations or calculations?

Here are 5 related questions you might find helpful:

1. How do monthly compounding and annual compounding differ in financial calculations?
2. What are other methods to calculate compound interest rates?
3. How does the length of the deposit term affect the final amount in compound interest?
4. Can you calculate the interest if the time period was extended by another year?
5. What is the formula for continuous compounding, and how does it compare to monthly compounding?

Tip: Always double-check financial calculations by rounding