Question

the compound Intereston sooo
at 12% P A 1 1/2 years. If Intrest is
compounded half year​

Answer 1

Answer:

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Step-by-step explanation:

Here, the interest is compounded half-yearly. So,

Principal (P) = $ 8,000

Number of years (n) = 1\(\frac{1}{2}\) × 2 = \(\frac{3}{2}\) × 2 = 3

Rate of interest compounded half-yearly (r) = \(\frac{10}{2}\)% = 5%

Now, A = P (1 + \(\frac{r}{100}\))\(^{n}\)

⟹ A = $ 8,000(1 + \(\frac{5}{100}\))\(^{3}\)

⟹ A = $ 8,000(1 + \(\frac{1}{20}\))\(^{3}\)

⟹ A = $ 8,000 × (\(\frac{21}{20}\))\(^{3}\)

⟹ A = $ 8,000 × \(\frac{9261}{8000}\)

⟹ A = $ 9,261 and

Compound interest = Amount - Principal

                          = $ 9,261 - $ 8,000

                          = $ 1,261

Therefore, the amount is $ 9,261 and the compound interest is $ 1,261