Question

find the amount of 1000 in one year
$a = p (1 + r \div 100) n$
find the amount of 1000 in one year at 2% per annum when the interest is compounded half yearly​

Answer 1

Answer:

1010

Step-by-step explanation:

P = 1,000 R = 2 percent and n = ?

Amount = P ( 1 + r/2) 2n

=> 1,000 ( 1 + 0.02/2) 2 * 1/2

=> 1,000 ( 1 + 0.01)

=> 1,000*1.01

= 1010

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