Rs 62500 for 2 years 6 months at 12% per annum compounded annually
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hey buddy here is your answer
==>Principal = 62500
==>T( time ) = 2 years
==> N = no of times interest compound yearly 12/6 = 2
==>R ( rate ) = 12% (12/100= 0.12 we need rate in decimals )
==>A ( amount ) = P( 1+ R/N ) ^nt
nt( n and time in years )
==> A= 62500(1+0.12/2)^2 2 = 78904.81 (answer)
thus, after 2 years you'll get 78904.81
==>Principal = 62500
==>T( time ) = 2 years
==> N = no of times interest compound yearly 12/6 = 2
==>R ( rate ) = 12% (12/100= 0.12 we need rate in decimals )
==>A ( amount ) = P( 1+ R/N ) ^nt
nt( n and time in years )
==> A= 62500(1+0.12/2)^2 2 = 78904.81 (answer)
thus, after 2 years you'll get 78904.81
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