$1860 Is Invested For 2years At 5% Per Annum Compound Interest.Find How Much More Profitable It Will Be To Have The Interest Added Half-yearly Rather Than Yearly?
Please help me solve this
Answer:
Lets take the first case:
Investment = 1860
First year interest = 5% of 1860
= 93
Second year interest = 5% of (1860 + 93)
= 97.65
In total = $190.65
On the other paw, half yearly interest will be:
2.5% 1860 + 2.5% of 1860 for one year
2.5% 1860 + 2.5% 1860 for second year
This comes out to be $186
That means the compounded interest per anum yield more interest.
Comment: try again that's not the answer
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Answer:
Lets take the first case:
Investment = 1860
First year interest = 5% of 1860
= 93
Second year interest = 5% of (1860 + 93)
= 97.65
In total = $190.65
On the other paw, half yearly interest will be:
2.5% 1860 + 2.5% of 1860 for one year
2.5% 1860 + 2.5% 1860 for second year
This comes out to be $186
That means the compounded interest per anum yield more interest.
Comment: try again that's not the answer
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Give me a few paragraphs on how to uphold academic honesty. Academic Honesty is an important ethical and moral expediency. It is required for upholding the reputation and esteem of the educational institution. Students must be trained since the start of their school education in...
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I know that some elderly homes offer CNA classes while you work there. This is mainly what I am looking for. Are here any in the Phoenix area? My daughter is doing it in Benson but that's in recent times way to far to go. University...
How Do You Multiply Fractions And Whole Numbers?
Treat the whole number as a fraction having 1 as a denominator. (5/2)*3 = (5/2)*(3/1) = (5*3)/(2*1) = 15/2 Or, multiply the numerator by the whole number and use indistinguishable denominator. (It's the same thing. See the example above.) 7/8x10