Question

Find the compound interest on a 10000 in 2 years at 4% per annum the interest being compounded half yearly by trick

Answer 1

Explanation:

$a = p(1 + r \div n) ^{nt } \\ a = 10000(1 + 2 \div 2) ^{2} \\ a = 10000(1 + 1) ^{2} \\ a = 10000 \times 4 = 40000$

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