Question

8. Find the amount and the compound interest on 320000 for 2 years at 10% per annum
compounded half-yearly.​

Answer 1

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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