Question

Find the number of conversion times the interest is compounded and rate for each

A sum taken for 2 years at 4% per annum compounded half yearly​

Answer 1

Answer:

see below

Step-by-step explanation:

T = 2years = 2×12 =24months

compounded : half yearly = 6months

hence n = T/6 = 24/6 = 4

R = 4% p.a

r = 4 × 6/12 = 2%

now u can use formula

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