The interest on 6000 at 6% compounded semiannually for eight years is?

Question

Cael Page

Mathematics

31 August, 00:00

The interest on 6000 at 6% compounded semiannually for eight years is?

+5

Answers (2)

Know the Answer?

Shane · Answer 1

Using the formula

I = P x R x T

100

where

I is interest

P is principal

R is rate

T is time in years

I = 6000 x 6 x 8

100

I = 2880

when compounded semi anually the interest will be multiplied by 2

2880 x 2

5760 is the answer

Barajas · Answer 2

It will be $3,628.20.