Question

find the compound interest on $10000 for 1year at8%per annum interest is compounded half yearly

Answer 1

when compound half yearly
r=8/2=4percent
t=1*2=2years

CI=p*r/100
=10000*4/100
=100*4
=400
A=P+I
=10000+400
=10400

CI=p*r/100
=10400*4/100
=104*4
=416
A=P+I
=10400+416
=10816
CI=A-P
CI=10816-10000
CI =816