Question

what would be the amount of compound interest on %6,000 invested for 2 years att 9%, compounded semiannually? round your answer to the nearest dollar

Answer 1

Principal P=6000$
Interest = 9% p.a. = 4.5% /6 months

Principal and interest after 2 years
= 6000 * (1.045)⁴
= 6000 * 1.1925186
= 7155.11
Interest after two years
= 7155.11 - 6000
= 1155.11$

Answer 2

8,450. The terms of sale are 2/10, n/30.