(e)62,500 for 1 5 years at 8% per annum compounded half yearly – InterviewSolution

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1.

(e)62,500 for 1 5 years at 8% per annum compounded half yearly

Answer»

Compound half yearly formula

1year 6 month =3/2 that is n

amount=principal (1+(R/2)/100)^2n

amount=62500(1+(4/100))^3A=62500×26/25×26/25×26/25A=70304interest=A-p=7804

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