If P is principal amount, $$I$$ is the rate of interest per annum and n is the number of periods in years, the compound amount factor (CAF) is:
A. $${\left( {1 + I} \right)^{\text{n}}}$$
B. $${\left( {1 + I} \right)^{\frac{1}{{2{\text{n}}}}}}$$
C. $$\sqrt {{\text{n}} + I} $$
D. None of these
Answer: Option A
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B. Money is borrowed for n = 7 years
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