In what time will 64000 amount to 68921 at a rate of 5 % per annum comp half yearly
2 answers:
Answer:
Time = T half–years , Rate = 5 % per half year
2
Step-by-step explanation:
we know the formula:
- A=P(1+r/n)^nt ,where A is the amount , P is the principle , r is the rate , n is the number of times the interest compounded per unit time
68921=64000(1+0.05/2)^2t
or,68921/64000=(41/40)^2t
or, (41/40)^3=(41/40)^2t
or 2t=3
or, t=3/2 years
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