Question

2. Find the compound interest for the given principal, rate and time when compounded harf-yearly

P = 5,000 R = 10% P. aT = 24 months
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Answer 1

If interest is compounded half yearly, rate of interest = R / 2 and A = P [ 1 + ( {R / 2} / 100 ) ]T, where 'T' is the time period. For example, if we have to calculate the interest for 1 year, then T = 2.

Answer 2

Answer: 6077.53125 is your answer