Question

8. What is the compound interest on 8000 at 10% p.a. for 2 years if the interest is calculated semi - annually.​

Answer 1

Answer:

1,724.5

Step-by-step explanation:

If you start with 8,000.00 in a savings account earning a 10% interest rate, compounded Semi-annually, and make 0.00 deposits on a Monthly basis, after 2 Years your savings account will have grown to 9,724.05 -- of which 8,000.00 is the total of your beginning balance plus deposits, and 1,724.05 is the total interest earnings.

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Answer 2

Answer:

Rs. 1724.05

Step-by-step explanation:

Principal = Rs. 8000

Rate = 10% p.a

Time = 2 years

A = P(1+r/200)^2n

A = 8000(1+10/200)^2*2

A = 8000(1+1/20)^4

A = 8000*21/20*21/20*21/20*21/20

A = Rs. 9724.05

C.I = A-P

= (9724.05-8000)

Rs. 1724.05

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