Question

12. Find the amount and the compound interest on 20,000 for one year at 7% pa
compounded half-yearly.​

Answer 1

Answer:

cl=2898

Step-by-step explanation:

here p=20000

r=7%

we have to calculate half yearly .

and for 1year.1 year means two half years so we can write that n=2

so total amount=P(1+r/100)^n

=20000(1+7/100)^2

which is equal to 22898

so compound interest is total amount-p

=22898-20000

so CI is 2898