If the interest is compounded half yearly calculate the amount when p=7400 and r=5% and the duration is one year
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the interest is compounded half yearly calculate the amount 7774.625
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A=P(1+R/200))n. {half yearly}
=7400(1+5/200)². {2 half years in 1 year}
=7400(1+1/40)²
=7400(41/40)²
=7400×41/40×41/40
=74×41/4×41/4
=124394/16
A=7774.625
Compound Interest=A-P
=7774.625-7400
=374.625
Hope it helps you
=7400(1+5/200)². {2 half years in 1 year}
=7400(1+1/40)²
=7400(41/40)²
=7400×41/40×41/40
=74×41/4×41/4
=124394/16
A=7774.625
Compound Interest=A-P
=7774.625-7400
=374.625
Hope it helps you
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