find the amount and the compoud interest on r 12800 for 1year at 15/2% per annum, compounded semi- annually.
3 answers
amount =14792 ci=1992
compound interest, A = p (1 + (r/n) )^(nt)
where p=pricipal, r=rate, n=number of compounding periods t=years
A = 12800 ( 1 + (0.075/2))^2
A = 13778
where p=pricipal, r=rate, n=number of compounding periods t=years
A = 12800 ( 1 + (0.075/2))^2
A = 13778
14792