Anamika took a loan of 40,000 from a branch of a bank . The rate of interest is 5 % per annum . Find the difference in amounts she would be paying after 12 years if the interest is compounded annually and compounded half - yearly
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Answered by
4
Answer:
hey mate here is the answer
Step-by-step explanation:
A= 40000(1+0.05)^18/12
A= 43037.193217
principal = rs 40000
rate of interest = 5% = 0.05
time= 18 month= 18/12 years
A= P(1+r/n)^nt
A= 40000(1+0.05/2)^ 2×18/12
A= 43075.625
difference in amount = 43075.625 - 43037.193217= 38.431783
ans- the difference amount she would be paying after 18 month if interest is compound annually and compound half yearly is 38.431783
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Answered by
1
Answer:
totel amout she will pay is 64,000
annually she pay 2,000
half yearly she pay 1,000
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