Question

Question 10. Calculate the amount and the compound interest on * 32000 for 6 months at
5% p.a., compounded quarterly.​

Answer 1

$\fontsize{18}{10}{\textup{\textbf{The Amount is 32805}}}$

Step-by-step explanation:

Given

P=32000

R=5%,

T=6 months, 2 quarters

Amount=32000(1+r/n)^nT

=32000(1+5/4%)^4*(1/2)

=32000(81/80)^2

=32000*81*81/(80*80)

=5*81*81

=6561*5

=32805 is the required amount

The interest accumulated=A-P= 32805-32000=805