Find the compound interest on $1000 in 2years at 4% per annum, the interest being compounded half-yearly?
Choose the correct choice.
A) $645.56
B) $82.43
C) $954.26
D) $745.69
E) $1020.45
Principle = $10000   Rate = 2% half yearly = 4 half years   Amount = 1000*(1 + 2/100)^4 = 1000 * 51/50 * 51/50 * 51/50 * 51/50   = $1082.43   C.I. = 1082.43-1000= 
<gadget id="calculator">1082.43-1000</gadget>
<output>82.43</output>
$82.43   Answer is $82.43
<result>B</result>
Find the compound interest on $1000 in 2years at 4% per annum, the interest being compounded half-yearly?