Question

You are given with points!

Answer 1

Given Principal = 3000.

Given R = 10%. = > Semi-annually.

Given Amount = 3993.

We know that A = P(1 + r/100)^2n

                        3993 = 3000(1 + 10/100)^2n

                        3993 = 3000(11/10)^2n

                        $\frac{3993}{3000} = (\frac{11}{10}) ^{2n}$

                       $\frac{1331}{1000} = ( \frac{11}{10} )^{2n}$

                       $( \frac{11}{10})^3 = ( \frac{11}{10}) ^{2n}$

                       $2n = 3$

                       $n = \frac{3}{2}$

                       $n = 1 \frac{1}{2} years.$


Hope this helps!

Answer 2

Hi,

Please see the attached file!


Thanks