Find the sum that 4096 will amount to in 18 months at 12.5%per annum the interst being compounded half yearly
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Given sum = 4096
Time = 18 months = 3 years
r = 25/4(compounded half yearly)
We know that A = p(1+r/100)^n
= 4096(1+25/4*100)^3
= 4096(17/16)^3
= 4913.
Hope this helps!
Time = 18 months = 3 years
r = 25/4(compounded half yearly)
We know that A = p(1+r/100)^n
= 4096(1+25/4*100)^3
= 4096(17/16)^3
= 4913.
Hope this helps!
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