Compound interest amount principal 22050 20000 2050. I PRT 5000 11 90 365 13562 Unit 81 Computing simple interest and maturity value 155 c Computing simple interestloans stated in days Example 5 As you can see from Example 5 a 360-day year benefits. Calculate the amount of compound interest Jane will have earned on 6000 at 28 for 3 years.
Interest Rate per annum 10 Interest Rate per term of half year R 10 2 5 Step 3 Amount P1 R 100n 30001 5 1001 3000 105 3150 Step 4 Compound Interest Amount - Principal 3150 - 3000 150 Step 5 Therefore the compound interest is 150.
Rate r 10 per annum 102 5 half yearly Time t 1 ½ years 32 2 3 half years. N Number of compounding periods per year. 8000 for 1 ½ years at 10 per annum compounded half-yearly. The bank gives you a 12 interest rate and compounds the interest every 2 months.