Question

find the amount and compound interest on $12800 for one year at 12% per annum compounded semi annually

Answer 1

$a = p {(1 + r \div 200)}^{2n}$
it is the formula for compounded half yearly or semi annually ,put the values in the formula to get the answer and the ans is A=$16056.32 and the C.I =$3256.32 (where n= time )