Question

2. P20,000 is invested for 15 years at 5 % compounded semi-annually. A. Give the value of each variable using the formula A = P(1 + i)" r where i= and n = - kt k Υ 1. P= 2. r=. 3. i= 4. n= B. Find the compound amount. Solution: Answer: C. Find the compound interest. Solution: Answer:​

Answer 1

ANSWER:

Correct option is C)

Principal =500, R=3%, n=2 (semiannually compounded),

t =1 year

Using the formula, we have

A=P(1+

100

R

)

n.t

A=500(1+

100

3

)

2.1

A =500×(1.03)

2

A =500×1.0609

Amount =530.45

Compound interest = Amount − Principal

=530.45−500

Compound interest =30.45

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