Mathematics · Interest
A bank offers 9.6% compound interest per annum calculated on a half-yearly basis. A customer deposits ¹8908 each on 1 January and 1 July of a year. At the end of the year, the amount he would have gained by way of interest is ________. [Give your answer correct to 2 decimal places.]
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1¹1303.08
- 2¹1303.27✓
- 3¹1299.47
- 4¹1313.27
Correct answer
¹1303.27
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