The amount paid for 160000 at 10% per annum compounded semi annually for 2 years is
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Answer:
₹ 194481
Step-by-step explanation:
a=p(1+r/n)power of nt
p = principal amount (the initial amount you borrow or deposit)
r = annual rate of interest (as a decimal)
t = number of years the amount is deposited or borrowed for.
a = amount of money accumulated after n years, including interest.
n = number of times the interest is compounded per year
Given :
p = ₹ 160000
r = 10% per annum
t = 2 years
n = 2
A = ₹ 194481
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