Question

find the rate and time period for the following
1. A sum taken for
$1 \frac{1}{2}$
years at8% per annum is compounded half yearly.
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Answer 1

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$time \: period \: = 2 \times \frac{3}{2} = 3 \: years \\ \\ \ rate \: of \: interest \: = \frac{8}{4} = 4\%$

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