Find the ci rs 16000,at 20%compounded interest half year, for 18 months
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Given Principal Amount= P= 16000
Rates of interest Per annum= i =20%
Time= n =18 months = 1 1/2 years..
compounded half yearly so 1 1/2 ×2 = 3 ..n=3
Compound Interest = P[ (1+i)^n - 1]
=16000[ (1+20/100)^3 - 1]
=16000[(1 + 0.2)^3 -1]
=16000[ (1.2)^3 - 1]
=16000[1.728 - 1]
=16000[0.728]
=11648 is the Compound Interest...
Then compounded Amount = Principal Amount + Compound Interest
=16000 + 11648 =27648 is the Compounded amount
Rates of interest Per annum= i =20%
Time= n =18 months = 1 1/2 years..
compounded half yearly so 1 1/2 ×2 = 3 ..n=3
Compound Interest = P[ (1+i)^n - 1]
=16000[ (1+20/100)^3 - 1]
=16000[(1 + 0.2)^3 -1]
=16000[ (1.2)^3 - 1]
=16000[1.728 - 1]
=16000[0.728]
=11648 is the Compound Interest...
Then compounded Amount = Principal Amount + Compound Interest
=16000 + 11648 =27648 is the Compounded amount
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