How much interest will Tk. 2000 earn at an annul rate of 8% in one year if the interest is compounded every six months?
Created: 6 years ago |
Updated: 2 years ago
best des
Here, P = 2000 Tk; r = 0.08; n = 1 and m = 2
C = P(1 + r/m)n×m
= 2000(1 + .08/2)1×2
= Tk. 2163.20
Interest is (2163.20 - 2000) = Tk. 163.20
Md Azizur Rahman
Founder of Satt
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