Compute the compound interest on 5,000 for 1 1/2 years
compounded half-yearly.
years at 16% per annum
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Step-by-step explanation:
P of 1st time=5000
R=16%
T=1/2yrs
SI=5000×16×1/2×100
=400
A=5000+400
=5400
P of 2nd time= 5400
SI= 5400×16×1/2×100
=432
A=5400+432
=5832
P of 3rd time= 5832
SI= 5832×16×1/2×100
=466.56
A=6298.56
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