Question

Find the difference in the compound interest on 62500 for 1 1/2 years at 8% p.a
compounded annually and when compounded half-yearly.​

Answer 1

$\huge{\underline{\underline{\mathfrak{Answer}}}}$

Amount = 62500(1+8/2/100)^3

= 62500(26/25)^3

= 70304

CI = amount - principal

= 70304 - 62500

= 7804

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