Question

Principle = $ 3000, rate = 10% per annum compounded half yearly, time = 2 years

Answer 1

• Principle = $3000
• Rate = 10%
• Time = 2 years.

Amount = P[1+r/200]²ⁿ

              = $ 3000 [ 1+10/200]⁴

              = $3000 x [21/20]⁴

               = $ 3000 x 194481/160000 = $ 3646.51

             

Amount = $3646.51

CI = A-P = 3646.51-3000 = $646.51

Thank u.

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Answer 2

hey mate
here is your answer