Question

If the interest is compounded half-yearly,
calculate the amount when principal is
7,400; the rate of interest is 5% per annum
and the duration is one year.​

Answer 1

Answer:

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Answer 2

1. p=7400
2. r= 5%
3. n= 1 year
4. if intrest is compounded half yearly
5. A= p (1+5/2×100)^1×2
6. A=7400 (205/200)^2
7. A=7400×(1.025)^2
8. 7400×1.0506
9. A=7774.625