Question

Find compound interest on 5000 for 2 years at the rate of 5% compounded half yearly ​

Answer 1

Answer:

compound interest=

P(1+r/n)nt

5000(1+5/100)x×2

5000(105/100)2x

(525000/100)2x

5250/2x

x=5250/2

x=2625