Question
(MC) If the compound interest on $1000 for two years at 9% p.a., payable half-yearly is $x, find x.
A) 1000x9/100x2
B) 1000(1+9/100)⁴
C) 1000(1+4.5/100)⁴
D) 1000(1+9/100)²-1000
E) 1000(1+4.5/100)⁴-1000
A) 1000x9/100x2
B) 1000(1+9/100)⁴
C) 1000(1+4.5/100)⁴
D) 1000(1+9/100)²-1000
E) 1000(1+4.5/100)⁴-1000