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3 years ago

Calculate the total amount and compound interest on RS 8,000 for a year at the rate of 9% per annum compounded half yearly.

Mathematics

1 answer:

Gennadij [26K]3 years ago

8 0

Answer:

See below in bold.

Step-by-step explanation:

Total = A(1 + r/n)^nt where A = initial amount , t = number of years, r = the rate (as a decimal fraction) and n = number of payments a year. So:

Total after 1 year = 8000(1 + 0.09/2) ^ 1*2

= RS 8736.20.

Compound interest = RS 736.20

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