Find the compound interest and the total amount after three years if the interest is compounded half yearly. if principal is ₹1024 rate of interest 100% per annum

Find the compound interest and the total amount after three years if the interest is compounded half yearly if principal is 1024 rate of interest 100 per annum class=

Respuesta :

[tex]~~~~~~ \textit{Compound Interest Earned Amount} \\\\ A=P\left(1+\frac{r}{n}\right)^{nt} \quad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill &\$1024\\ r=rate\to 100\%\to \frac{100}{100}\dotfill &1\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{half-yearly, thus twice} \end{array}\dotfill &2\\ t=years\dotfill &3 \end{cases}[/tex]

[tex]A=1024\left(1+\frac{1}{2}\right)^{2\cdot 3} \implies A=1024(1.5)^6\implies A = 11664~\hfill \underset{earned~interest}{\stackrel{11664~~ - ~~1024}{10640}}[/tex]