find the compound interest at the end of 1 year on 10,000 at the rate of 8% per annum interest is compounded half-yearly
Answers
Answered by
46
Step-by-step explanation:
- ➯ Time = 1 year
- ➯ Principal = 10,000
- ➯ Rate Of Interest
- ➯Compound Interest
- ➯Amount
Here the Interest is Compounded half yearly
↬Time = 1 years
- Half of 1 year is 6 months
↬Time = 2 half years
The rate of interest is also Compounded half yearly
↬Rate of interest = 8%
↬Rate of interest = 8/2
↬Rate of interest = 4%
Let us find out The Amount by using formula
Where
- ➯ P = Principle
- ➯ T = Time
- ➯ R = Rate
- ➯ A = Amount
Now subtracting values in formula
Let us find Compounded interest by using formula
- Substituting values
Similar questions
Business Studies,
4 days ago
Environmental Sciences,
4 days ago
Biology,
9 days ago
Biology,
8 months ago
Math,
8 months ago
Social Sciences,
8 months ago