Question

5. Find the amount and compound interest on 80,000 at 10% for 12 years compounded half yearly​

Answer 1

ANSWER :-

P=80,000

RATE :- 10% WHICH WILL CONVERT TO 5 PERCENT PER HALF YEAR

YEARS :-12 WHICH WILL CONVERT TO 24 HALF YEARS

FORMULA :-

A = 80,000(1+5/100)^24

= 80,000 X (21/20)^24

= 258,007.9955

AMOUNT = PRINCIPLE+INTEREST

INTEREST = AMOUNT-PRINCIPLE

                 = 258,008-80,000

                 = 178,008