Answer to Question #156759 in Financial Math for Al

Question #156759

When an investor evaluates a 6-month compound interest of 1.500.000 TL with an interest rate of 15 percent, how much will it be with interest after 4 years?

 


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Expert's answer
2021-01-20T13:52:54-0500

Amount=1,500,000=1,500,000

semi-annual rate =15/2=7.5%=15/2=7.5\%

number of periods =4×2=8=4\times 2=8

values in 4 years = =1,500,000×(1+0.075)8=2675216.74=1,500,000\times (1+0.075)^{8}=2675216.74

amount of interest =26752161500000=1,175,216.74=2675216-1500000=1,175,216.74


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Comments

Assignment Expert
20.01.21, 20:54

Dear Misa, please use the panel for submitting a new question.

Misa
20.01.21, 12:22

A loan of 20000 at a rate of 5% is paid off in one years, compute the revised payment and create payment table.

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