Question

Compute the compound interest on 5000 for 1 whole 1 by 2 years at 16% per annum compounded half-yearly yearly

Answer 1

Answer:

1298056

Step-by-step explanation:

half yearly p=5000r=16%/2=8%half yearly r=18months/6=3times a=p(1+r/100)ta=5000(1+8/100)^3a=5000(108/100)^3a=5000×108/100×108/100×108/100a=(5×108×108×108)1000a=6298.56rs ci=a-pci=6298.56-5000ci=1298.56rs