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Popular Word Problems >

how long will it take 2000 to earn php 400 if the interest is 12 prcent compounded semi annually

Solution

h o w l o n g w i ll i t t ak e 2000 t o e a r n p h p 400 i f t h e in t eres t i s 12 p rce n t co m p o u n d e d se mi ann u a ll y

Solution

Time : 1.56

Solution steps

Translate the problem into an equation:

2400 = 2000 (1 + \frac{0.12}{2})^{2 t}

Solve for

t, 2400 = 2000 (1 + \frac{0.12}{2})^{2 t} : t = 1.56

Time : 1.56

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