Percentages
2012-08-25 2:45 am
What is the increase in interest for saving $10000 in a bank at a compound interest of 20% p.a. for two years, if the interest is compounded half yearly instead of annually?
回答 (1)
2012-08-25 3:52 am
✔ 最佳答案
compounded annually, interest= 10000 * (1 + 20%)^2 - 10000
= 4400
compounded half yearly, interest
= 10000 * (1 + 20%/2)^4 - 10000
= 4641
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