In how many years will a sum of 3000 at 20%
per annum compounded semi-annually become
3993?
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Answered by
4
Answer:
2/3
Step-by-step explanation:
A/P= (1+r÷2÷100)^2n
3993/3000=(1+20/2÷100)^2n
- 1331/1000=(1+10/100)^2n
1331/1000=(11/10)^2n
- 10 is the cube root of 1000
- 11 is the cube root of 1331
(11/10)^3=(11/10)^2n
comparing powers we get 3=2n
- n=2/3 year(or 8 months)
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Answered by
8
Answer:
Step-by-step explanation:
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