Question

Determine the accumulated amount of an annunity with half yearly payment of R2400 at an interest rate of 11.6% per year compound half yearly. the time under consideration is six years

Answer 1

Answer:

half yearly payment of R2400 at an interest rate of 11.6% per year compound half yearly.

required amount

A = $ 4,721.06

A = P + I where

P (principal) = $ 2,400.00

I (interest) = $ 2,321.06