1. Compute the compound interest on5,000 for 1 1/2 years at 16% per an – InterviewSolution

1.	1. Compute the compound interest on5,000 for 1 1/2 years at 16% per annumcompounded half-yearly.
Answer» A=P(1+R/200)^3=5000(1+16/200)^3 =5000(108/100)^3=6298.56so interest=6298.56-5000=1,298.56

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