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A sum of N12,000 is invested at a compound interest rate of 8% per annum, compounded semi-annually. What will be the amount at the end of 2 years?
  • a)
    N14,760
  • b)
    N14,800
  • c)
    N14,820
  • d)
    N14,880
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
A sum of N12,000 is invested at a compound interest rate of 8% per ann...
Compound interest can be calculated using the formula:
Amount = Principal × (1 + Rate/100)(Time × Frequency).
Here, the frequency is semi-annually,
so Time × Frequency = 2 × 2 = 4.
Substituting the values: 12,000 × (1 + 8/100)4
= N14,880.
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A sum of N12,000 is invested at a compound interest rate of 8% per annum, compounded semi-annually. What will be the amount at the end of 2 years?a)N14,760b)N14,800c)N14,820d)N14,880Correct answer is option 'D'. Can you explain this answer? for JAMB 2025 is part of JAMB preparation. The Question and answers have been prepared according to the JAMB exam syllabus. Information about A sum of N12,000 is invested at a compound interest rate of 8% per annum, compounded semi-annually. What will be the amount at the end of 2 years?a)N14,760b)N14,800c)N14,820d)N14,880Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for JAMB 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum of N12,000 is invested at a compound interest rate of 8% per annum, compounded semi-annually. What will be the amount at the end of 2 years?a)N14,760b)N14,800c)N14,820d)N14,880Correct answer is option 'D'. Can you explain this answer?.
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