F.3 Maths~急~!

2009-02-10 3:01 am
Simon deposits $ 5000 in a bank for 3 years. The interset rate is 4%p.a. for the first year and 6%p.a. for every subsequent year. If the interest is compounded half-yearly,find the compound interest he will obtain.

回答 (1)

2009-02-10 3:08 am
✔ 最佳答案
The compound interest he will obtain
=accumulated value-principal
=5000*(1+4%/2)^2*(1+6%/2)^4-5000 [BECAUSE compounded half-yearly]
=$ 854.89683


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