How much interest will TK. 2,000 earn at annual rate of 10% in one year if the interest is compounded every 6 months ?
Created: 6 years ago |
Updated: 3 months ago
best des
6 month interest rate = 10/2 % = 1/20
Interest = C - P
= p(1 + r)^n - p
= 2000(1 + 1/20)^2 - 2000
= 2000*21/20*21/20 - 2000
= 2205 - 2000
= 205
Md Azizur Rahman
Founder of Satt
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