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How much interest will TK. 1000 earn in one year at the annual interest rate of 20% if interest rate is compounded every 6 months ?

How much interest will TK. 1000 earn in one year at the annual interest rate of 20% if interest rate is compounded every 6 months ? Correct Answer 200

p' = p ( 1 + r/m)nm = 1000 (1 + .20/2)2 = 1000 * (1.1)2 = 1210 p, - p = 1210 - 1000 = 210

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