Question

Find the compound interest on 2000 at the rate of 10% per annum for 18 months when interest is compounded half-yearly.​

Answer 1

Answer:

CI = 315.25

Step-by-step explanation:

P = 2000, R = 10%, N = 18 months(3/2*2)

CI = P (1+R)-P

= 2000 ( 1+0.1/2)^3 - 2000

= 2000(1.05)^3 - 2000

= 2315.25 - 2000

CI = 315.25