Lalith look a loan of 90.000 from a bank. If the date of interest is 12% per annum find
the difference in amounts he would be paying after 238 years if the interest -
Compound annually in) Compound half-yearly
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2
Answer:
annually -100800
half-yearly- 101124
Step-by-step explanation:
principal=90000
rate=12%pa
time= 1 year (I take 1 year in place of 238 year )
interest (annually)= p(1+R/100)^time
= 90000(1+12/100)^1
=90000(112/100)
=90000*112/100
=900*112
= 100800
interest(half yearly)=p(1+r/2/100)^2time
=90000(1+6/100)^2*1
=90000(106/100)^2
=90000(11236/10000)
=9*11236
=101124
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