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Popular Word Problems >

What is the compound amount on a loan of ₱50,000 at 6% for 6 years compounded semi-annually?

Solução

Wha t i s t h e co m p o u n d am o u n t o n a l o an o f ₱50, 000 a t 6% f or 6 ye a rs co m p o u n d e d se mi - ann u a ll y ?

Solução

Amount : 71288.04

Passos da solução

Translate the problem into an equation:

A = 50000 (1 + \frac{0.06}{2})^{2 \cdot 6}

50000 (1 + \frac{0.06}{2})^{2 \cdot 6} = 71288.04434 \dots

Round to the nearest hundredth:

71288.04

Amount : 71288.04

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