Question

calculate the amount of 31250 at the end of 2.5 year compounded annually at 8% per annum​

Answer 1

Answer:

Principal= 31250

Time = 2 and 1/2 years

Rate = 8%

So first we fill take out the Amount for 2 years.

Which would be:

36450

Now we will take out the amount for 1/2 years for which the rate would also be deducted to half which means now rate for 1/2 years is 4% with principal= 36450

So amount for 1/2 years for 4% rate is:

= 37908

Ans.) 37908 is the amount after 2 and1/2 years at the rate of 8%.

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