Question

In what time 2000 amount to 2662 at 20% per anum çompoud half yearly ?

Answer 1

This is a good question to use a Time Value of Money calculator to solve.

Enter the known items: Present Value (PV) = 2000; Future Value (FV) =-2662 [NOTE: the negative sign indicates a withdrawl]; Rate = 20; set the compounding interval to semiannual. Press the Periods button to obtain the answer of three periods or 1.5 years.