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6250 for 1 year at 16% per annum compounded half-yearly |
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Answer» -step EXPLANATION:CI = A-PA = P(1+r/2/100)^2NA = 6250(1+16/2/100)^2×1A= 6250(1+8/100)^2A = 6250 ( 1+2/25)^2A= 6250 × 27/25 × 27/25A = 250 × 27 × 27/25A = 10 × 27×27A = 7290CI = 7290-6250CI = 1040 |
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