1. Calculate the amount and compound interest on
(a) 10,800 for 3 years at 12 - % per annum compounded annually.
2.
1
(b) 18,000 for 2 years at 10% per annum compounded annually.
2
1
(c) 62,500 for 1
years at 8% per annum compounded half yearly.
2
(d) 8,000 for 1 year at 9% per annum compounded half yearly.
(You could use the year by year calculation using SI formula to verify)
(e) 10,000 for 1 year at 8% per annum compounded half yearly.
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1
Answer:
a =p[ 1+r/100]to the power n
Step-by-step explanation:
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