Neeraj lent 65536 for 2 years at 12% per annum, compounded annually. How m
more could he earn if the interest were compounded half-yearly?
at in credited quarterly If the
Answers
Answered by
4
We know that A = P(1+r/100)^n
= 65536(1+25/200)^2
= 82944.(Annually)
We know that A = P(1+r/100)^n
= 65536(1+25/400)^4
= 65536(425/400)^4
= 83521.
The amount he earns = 83521 - 82944
= 577.
Similar questions