Question

Find the amount that David would receive if he invests 8192 for 18 months at 25/2% per Annum interest being compounded half yearly ​

Answer 1

Answer:

RS 9826

Step-by-step explanation:

Given:

P= Rs 8192

R=25/2% p.a

n=1.5 years

When the interest is compounded half-yearly, we have:

A=P(1+  

200

R

​  

)  

2n

 

A=8192(1+  

200

12.5

​  

)  

3

 

A=8192(1.0625)  

3

 

∴A= Rs 9826

Thus, the required amount is Rs9826