Answered

Welcome to Westonci.ca, the place where your questions find answers from a community of knowledgeable experts. Connect with a community of experts ready to provide precise solutions to your questions on our user-friendly Q&A platform. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals.

1.Ramu deposited Rs. 10,000 in a bank where interest is compounded
half yearly. If the rate of interest is 10% annually. How much amount he
will get after a year?
3​

Sagot :

Lanuel

Answer:

Future value, A = $10,500

Step-by-step explanation:

Given the following data;

Principal = Rs. 10,000

Interest rate compounded half yearly = 10% = 10/2 = 5%

Time = 1 year

To find the future value, we would use the compound interest formula;

[tex] A = P(1 + \frac{r}{100})^{t}[/tex]

Where;

  • A is the future value.
  • P is the principal or starting amount.
  • r is annual interest rate.
  • n is the number of times the interest is compounded in a year.
  • t is the number of years for the compound interest.

Substituting into the equation, we have;

[tex] A = 10000(1 + \frac{5}{100})^{1}[/tex]

[tex] A = 10000(1 + 0.05)[/tex]

[tex] A = 10000(1.05)[/tex]

Future value, A = $10,500

Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Discover more at Westonci.ca. Return for the latest expert answers and updates on various topics.