Question

find the amount and the compound interest on 20000 for 3/2 years at the rate of 8 % p.a. compounded half-yearly

Answer 1

Answer:

In this question 3/2 years means ---> 3/2*12=18 months

Interest is compounded half yearly so

there are three period of 6 months(18 months)

8% per annum but we are compounding half yearly.

so 4% per 6 month.

For 1st 6 month:

20000+20000*4/100=20800

For 2nd 6 month:

20800+20800*4/100=21632

For 3rd 6 month:

21632+21632*4/100=22497.28---Answer

Step-by-step explanation:

Answer 2

Answer:

Step-by-step explanation: