8000 for 1 years at 9percant per annum compounded half yearly
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Answer:
8736.2
Step-by-step explanation:
P = 8000, n= 1 , r= 9%
Formula:
S= P(1+r)whole power n
putting values.
= 8000[1+0.09/2]whole power 2
= 8763.2 ( after calculations )
illustrations:
since the interest rate is half yearly means every six months, so,
Rate =9%/2 = 4.5%
Also,
Time multiply by 2 we get 2x1 = 2 ( in 1 years, we get 2 times 6 months.)
Hope this answer the question.
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