Find the comneund interest on 5000 at 12%p.a. for 1/½ years if the interest is compounded semi-annually
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Answer:
ci=p(1+I) n-p
p=5000 I=12%=0.12 n=2
ci=5000(1+0.12) ²-5000
= 5000(1.12) ²-5000
= 5000(1.2544) -5000
=06272-5000
ci=1272
a=p(1+I) n
= 5000(1+0.12) ²
=5000(1.12) ²
=5000(1.2544)
A=6272
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