Question

Find the sum that amount to 17576 for 18 months at 8 % per annum when compounded half yearly
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Answer 1

Step-by-step explanation:

Step-by-step explanation:

Principal=?

Amount=17576

Time=18 months

In year,18÷12=3/2years

If compounded half yearly,

Rate=8%=8/2=4%p.a

Time=3/2×2=3years

A=p(1+r/100)^n

17576=p(1+4/100)^3

P=17576×1000/2197=8000

The principal is 8000