It is 20000*(1.07)^60 = 1158928.54
800 x (1.04)6 ie Rs1012.26
9.5% semi-annually = 19.9025% annually.After 10 years 1200*(1.199025)^10 = 7369.93
I haven't gotten the answer to that test question either....the choices seem wrong
Annual: 176.23 Semiannually : 179.08 Quarterly: 180.61 Monthly: 181.67 Daily: 182.19 (assuming 365.25 days per year, on average).
$5,249.54
It is 20000*(1.07)^60 = 1158928.54
After 5 years, 20000 at 7% per annum compounded semiannually will be 20000*(1 + 0.5*7/100)2*5 = 20000*(1.035)10 = 28211.98
5000 x (1.03)10 = $6719.58
4500 x (1.01)14 = 5172.63
$1480.24
1000 x (1.025)8 which is $1218.40.
Semiannually over two years is equivalent to 4 periods. If the interest is 12% every 6 months, then the amount of interest is It is 8000*[(1.12)4 -1] =4588.15
800 x (1.04)6 ie Rs1012.26
9.5% semi-annually = 19.9025% annually.After 10 years 1200*(1.199025)^10 = 7369.93
You should have 5976.51 provided the fractional units of interest earned are also rolled into the capital.
It will take 11.9 (or 12) years.