calculate the compound interest on rs 15625 for 1 1/2 years at 8% per annum compounded semi annually?
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Answered by
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Given Principal Amount= P= 15626
Rates of interest Per annum= i =8%
Time= n =1 1/2years ×2 = 3(because compounded half yearly)
Compound Interest = P[ (1+i)^n - 1]
=15625[ (1+8/100)^3 - 1]
=15625[(1 + 0.08)^3 -1]
=15625[ (1.08)^3 - 1]
=15625[1.259712- 1]
=15625[0.259712]
=4058 is the Compound Interest...
Then compounded Amount = Principal Amount + Compound Interest
=15625+ 4058 =19683 is the Compounded amount
Rates of interest Per annum= i =8%
Time= n =1 1/2years ×2 = 3(because compounded half yearly)
Compound Interest = P[ (1+i)^n - 1]
=15625[ (1+8/100)^3 - 1]
=15625[(1 + 0.08)^3 -1]
=15625[ (1.08)^3 - 1]
=15625[1.259712- 1]
=15625[0.259712]
=4058 is the Compound Interest...
Then compounded Amount = Principal Amount + Compound Interest
=15625+ 4058 =19683 is the Compounded amount
Answered by
2
19683
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