Discover a wealth of knowledge at Westonci.ca, where experts provide answers to your most pressing questions. Our platform provides a seamless experience for finding reliable answers from a knowledgeable network of professionals. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.
Sagot :
Answer:
¥4630.50
Step-by-step explanation:
Compound Interest Formula
[tex]\large \text{$ \sf A=P(1+\frac{r}{n})^{nt} $}[/tex]
where:
- A = final amount
- P = principal amount
- r = interest rate (in decimal form)
- n = number of times interest applied per time period
- t = number of time periods elapsed
Given:
- P = 4000
- r = 10% = 0.1
- n = 2
- t = 1.5
Substitute the given values into the formula and solve for A:
[tex]\implies \sf A=4000\left(1+\dfrac{0.1}{2}\right)^{2 \times 1.5}[/tex]
[tex]\implies \sf A=4000\left(1.05\right)^{3}[/tex]
[tex]\implies \sf A=4630.50[/tex]
Answer:
¥4630.50
Step-by-step explanation:
Here,
- P = ¥4000
- n = 1 1/2 = 3/2 years
- r = 10% per annum
ATQ, as well,the interest is payable in half-yearly.
We know that,
- [By this formula,it could easily solved]
[tex] \boxed{\rm \: A = P \bigg(1+ \cfrac{ \cfrac{r}{2} }{100} \bigg) {}^{2n} }[/tex]
Substitute the values
[tex]A = 4000 \bigg(1 + \cfrac{5}{100} \bigg) {}^{2 \times \frac{3}{2} } [/tex]
Now solve.
[tex]A = 4000 * (21/20)^3[/tex]
[tex] \implies \: A = 4000 \times \cfrac{21}{20} \times \cfrac{21}{20} \times \cfrac{21}{20} = \cfrac{21 \times 21 \times 21}{2} [/tex]
[tex] \implies \: A = \: \yen \: 4630.50[/tex]
Hence,the sum of ¥ 4000 will be amounted to ¥4630.50 in 1 1/2 years.
[tex] \rule{225pt}{2pt}[/tex]
This question arises:Why we used that formula?
Reason:
The compound interest is calculated half-yearly, the formula changes a little.In this case for r we write r/2 and for n we write 2n because a rate of r% per annum is r/2% half-yearly and n years = 2n half year So this is the reason.
We appreciate your visit. Hopefully, the answers you found were beneficial. Don't hesitate to come back for more information. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.