Question

what time will 2000 amount to 2662 at 20% per annum compounded half yearly​

Answer 1

Step-by-step explanation:

An = P (1+i)^ n

2662=2000(1.1)^n

2662/2000=1.1^n

1331/1000= 1.1^n

1.331 = 1.1^n

n = 3

n = 3/2

n = 1.5 years