Question

Find the amount and the compound interest on 62500 for1*1/2 years at 8% compounded half-yearly

Answer 1

principal (p)=62500,Time (T)=1.5 years,Rate (R)=8% Ammount=p (1+R÷100) =62500 × 1.1664 =72900 again, compound interest = p(1+R÷100)-1=62500×0.1664 = 10400