Find the compounds interest on 14,000 for 3/2year at 12% per annum if the interest is compounded half yearly
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on half year= we half the rate and double the time
so here r= 6% ansd n= 3
A= P(1+r/100)ⁿ
=14000(1+6/100)³
=14000(53/50)³
=16674.224
ci= A-P
16674.224-14000
= 2674.224
so here r= 6% ansd n= 3
A= P(1+r/100)ⁿ
=14000(1+6/100)³
=14000(53/50)³
=16674.224
ci= A-P
16674.224-14000
= 2674.224
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