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A lent B rs 32500 to purchase a car at 12.5% p.A

Sagot :

abiolataiwo2015

Answer:

6,483.75

Step-by-step explanation:

Calculation to find the interest paid by B after 3/2 year

First step is to calculate the Compound interest amountUsing this formula

Interest paid= P(1 + r/100)^Time

Where,

P represent principal=32,500

r represent Rate of interest = 12.5%/2 = 6.25%

T represent Time=3/2 years

Let plug in the formula

Compound interest amount= 32,500(1 + 6.25/100)^2*3/2

Compound interest amount= 32,500([1+.0625)^3

Compound interest amount= 32,500(1.0625)^3

Compound interest amount= 32,500 *1.1995

Compound interest amount= 38,983.75

Now let calculate the Interest paid by B

Interest paid by B = 38,983.75 - 32,500

Interest paid by B = 6,483.75

Therefore the interest paid by B after 3/2 year will be 6,483.75

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