Question

Find the compound interest and the total amount for the following:
Principal - Rs. 6.250 Rate -12% yearly
Time - 2 years​

Answer 1

Answer:

Mark Me as You know

Step-by-step explanation:

mark as Brainiest

You want to calculate your new prinicpal from:

an initial investement of $6.250

at 12% annual interest,

compounded 2 times per year,

after 2 year(s).

The annual interest rate attached to your money is 12%. Since it is compounded 2 times a year, the interest rate at each compounding time is 12% ÷ 2 or 6%.

Before we start, be sure to convert your interest rate at the time of compounding, 6%, into a decimal by dividing it by 100, so 6% becomes 0.06 for calculation purposes