Find the amount and the compound interest on 7 12,800 for one year at 7
%
per annum compounded semi-annually.
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2
Answer:
A = 763,569.179
CI = 50,769.179
Step-by-step explanation:
A = P × (1 + r/100)^n
A = 712800 ×( 1 + 7/2×100)^2
= 763,569.179
CI = AMOUNT - PRINCIPAL
=763,569.179−712,800
=50,769.179
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