Question

P=18,000
R=10%
N=2 and a half years
Find the compound interest if it is compounded annually

Answer 1

Answer:

P=18000 N=2,1/2 years R=10% A=p (1+10/100)×3 times 18000 (1+2/100)3 10800 (225/200)3 10800 (9/8)3 10800×9/8×9/8×9/8 15377.34 CI=15377.34-10800 =4577.34

Thanks

Answer 2

Here p=18000

R=10%/2=5%{compounded half yearly}

n=3/2 ×2=3year

A=P(1+R/100)^n

=18000(1+5/100)^3

=18000(105/100)^3

=18000×1.15

=20,700

CI=A-P

=20,700-18000

=2700

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