Question

lea invest rs 8000 in a savings account with a fixed annual interest rate of 8% compounded 2 times per year what will the accoint balance be after 2years​

Answer 1

Answer:

Principal = 8000

R=8%

N = 2 yrs

$amount = p { {(1 + r \div 200)}^{2n} } \\ = 8000 {(1 + 8 \div 200)}^{4} \\ = 8000 {(208 \div 200)}^{4} \\ = 8000 {(1.04)}^{4} \\ = 8000 \times 1.17 = 9360$