Calcualte the C.I. on 3,500 at 6% per
annum for 3 years, the interest being
compounded half-yearly.
Answers
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1
Answer:
3408.40
Step-by-step explanation:
Total amount A = p( 1 + r/n)^rn
p= 3500, r = 6/100, t = 3, n =2
A = 3500 [1 + (6/100×2)]^3×2
A = 3500 ( 1 + 12/100)^6
A = 3500(112/100)^6
A = 6908.40
C.I = 6908.40 - 3500 = 3408.40
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