Question

8. Calcualte the C.I. on 3,500 at 6% per
annum for 3 years, the interest being
compounded half-yearly.
Do not use mathematical tables. Use the
necessary information from the following:
(1.063 = 1-191016; (1-03)3 = 1-092727
(1-06)6 = 1.418519; (1-03)6 = 1.194052​

Answer 1

Answer:

answer is lengthier while points are less.... plss increase the points

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Answer 2

Answer:

679.182

Step-by-step explanation:

C.I. on 3,500 at 6% per  annum for 3 years, the interest being  compounded half-yearly

============

Sum= 3500

Time= 3 years

Number of compounds= 3*2=6

Half-yearly interest rate= 6%/2=3%

• Sum= 3500*(1+1/2*6/100)^(3*2)= 3500* 1.03⁶= 3500*1.194052​=4179.182

• Interest= 4179.182 - 3500= 679.182