Discuss Forum
1. How much interest will TK. 1000 earn in one year at the annual interest rate of 20% if interest rate is compounded every 6 months ?
- A. 200
- B. 200
- C. 200
- D. 200
Answer: Option E
Explanation:
p' = p ( 1 + r/m)nm
= 1000 (1 + .20/2)2
= 1000 * (1.1)2 = 1210
p, - p = 1210 - 1000 = 210
Post your comments here: