Question

Find the amount to be paid at the end of 6 months on Rs.1800 at 8% p.a compounded quarterly

Answer 1

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Answer 2

The amount to be paid at the end of 6 months on Rs.1800 at 8% p.a compounded quarterly is Rs.1872.72

Step-by-step explanation:

Principal = Rs.1800

Rate of interest = 8% p.a. compounded quarterly

So, No. of compounds per year = 4

Time = 6 months = $\frac{6}{12}= 0.5 years$

$Amount = P(1+\frac{r}{n})^{nt}$

$Amount =1800(1+\frac{0.08}{4})^{4 \times 0.5}$

$Amount =1872.72$

Hence the amount to be paid at the end of 6 months on Rs.1800 at 8% p.a compounded quarterly is Rs.1872.72

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