the compound interest for Rs 1000 at 10% for half year when interest ia accounted at every 6 months is
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Answer:
FV = PV * (R/c)^t*c
where:
FV = future value = (this is the solution you’re seeking)
PV = present value. Rs 1,000
R = annual rate. 10%
c = compounding periods 2
t = time 1 year
^ = raised to the power of. (1 yr * 2 compounding periods)
FV = 1,000 * [1+(.10)/2] ^ (1*2)
Rs 1,102.5 = 1,000 * [1.05]^2
Rs 1,102.5 = 1,000 * 1.1025
Step-by-step explanation:
acollins96:
dividedb by half to get the half the year rate
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