Question

Find the compound interest on 25,000 for one and half years at 8% p.a., when the
interest is compounded half yearly​

Answer 1

Answer:

3121.60

Step-by-step explanation:

Int for 6 months is 4% for 3 periods of 6 mo each

(1.5 yrs is 18 mo=3 periods of 6 mo each)

int =A-P

and A=P[1+(r/100)]^n

=25000[1+0.04]^3

=25000*1.04^3

=25000*1.124864

=28121.60

so int=28121.60-25000

=3121.60