5,000 for 11 years at 16% per amoCompute the compound interest oncompo – InterviewSolution

1.	5,000 for 11 years at 16% per amoCompute the compound interest oncompounded half-yearly.2Find the compound interest on ?1
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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