8. Find the amount and the compound interest on 320000 for 2 years at 10% per annum
compounded half-yearly.
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Answer:
Amount =P(1+ r/100)^n
Where P= principle, r= rate of internal n= time
Amount =320000(1+ 20/400)^4
=388962
Compound interest = Amount - principle
=388962−320000
=68962
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