Answer:
Amount = $11025
Interest = $1025
Step-by-step explanation:
Amount in a compound interest is given by
[tex]A = P\left(1+\dfrac{R}{100}\right)^T[/tex]
where P is the principal, R is the rate and T is the time.
The interest is compunded quarterly i.e. 4 times a year. Hence its rate per quarter will be 20% ÷ 4 = 5%.
The principal is compunded for six months which is 2 quarters. Therefore, T = 2.
[tex]A = 10000(1+\frac{5}{100})^2 = 10000(1.05)^2 = 11025[/tex]
The interest is A - P = 11025 - 10000 = $1025
Answer:
Total amount:idk
Interest:nvm
Step-by-step explanation:
