Question

The amount paid for 160000 at 10% per annum compounded semi anually for 2years is​

Answer 1

Answer:

formula for amount compounded semi annually

= p ( 1 + (r/2)% )²ⁿ

putting values in the formula

160000 ( 1 + 5%)²*²

to remove % sign... divide 5 by 100 and solve to get

160000/100^4 (105)^4

= 194481