Question

Veena borrowed $20000 from a moneylender at the rate of 4% per annum for 1*1/2 years compounded half yearly. Find the amount she has to pay at the end of 1*1/2 years.

Answer 1

the 4 % of 20000 is 800
800 is the interest of 1/2 year
total is 800×3=2400 hope it helps u

Answer 2

• If the compound interest is half yearly .

Amount = P [ 1 + r/200]²ⁿ

     =  $ 20000 [1 + 4/200]³

     = $ 20000 x 51/50 x 51/50 x 51/50

    = $ 20000 x 132651/125000

    = $21224.16

Amount =  $21224.16

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