Find the different between compound interest payable anually and half anually for a amount Rs14000 at the rate of 12•\•per annum

Question

2 years ago

10

for 2 yrs.

1 answer:

Ostrovityanka [42] · Answer 1 · 2022-11-20T06:18:02+03:00

Answer:

$113.08

Step-by-step explanation:

The formula for calculating future value:

FV = P (1 + r/m)^mn

FV = Future value

P = Present value

R = interest rate

N = number of years

m = number of compounding

14,000(1.12)^2 = 17,561.60

14,000 ( 1 + 0.12/2)^(2x2) = 17674.68

Difference : 17674.68 - 17,561.60 = $113.08