Finding the Principal from Compound Interest (Half-Yearly)

Finding the Principal from Compound Interest (Half-Yearly)

Secondary 3

Darius invested some money in a savings account for \(2\)years.

The rate of compound interest was fixed at \(10\%\) per annum compounded half-yearly.

At the end of the \(2\) years there was \(\$9724.05\) in his account.

How much did he invest in the account?

Video Solution:

Video Solution

Video solution locked

Solution:

Solution locked

Sign in to view the step-by-step solution

Finding similar questions...
Answer:\(\$8\,000\).

Need help? Join our JC Math tuition classes.

Learn more