Question

a certain sum of money amount's to us. 62424 in 6 a month so at8%per annul compounded quarterly find the sum

Answer 1

Answer:

60000

Step-by-step explanation:

CA = 62424

R = 8 % p.a

T = 6 months = 1/2 year = 0.5 year

now,

         CA = P(1+R/400)^4T

or, 62424 = P ( 1 + 8/400)^4*0.5

or, 62424 = P *2601/2500

P= 60000