Find the compound interest on 12,500at 6% per annum for 1year ,if the interest is paid in 4months interval.
Answers
Answered by
2
Answer:
Compound interest is calculated by multiplying the initial principal amount by one plus the annual interest rate raised to the number of compound periods minus one. Interest can be compounded on any given frequency schedule, from continuous to daily to annually.
have a Nice day
Answered by
2
Answer:
505
Step-by-step explanation:
principal = 12500
rate = 6% per annum
trivalent rate given in question so rate will = 6/3= 2%
then,
time= 1×3=3years
amount = principle × 102/100 × 102/100
amount = 12500 × 102 /100 × 102 /100 h= 13005
compound interest = amount - principal= 13005-12500=505
compound interest = 505
l tried my best hope it will help you and you will mark me as brainlist as your wish
Similar questions
Math,
4 months ago
Math,
4 months ago
Math,
4 months ago
Math,
8 months ago
Hindi,
8 months ago
Social Sciences,
11 months ago
Social Sciences,
11 months ago