How much interest will Tk. 2,000 earn at an annual rate of 8% in one year if the interest is compounded every 6 months?

How much interest will Tk. 2,000 earn at an annual rate of 8% in one year if the interest is compounded every 6 months?

A Tk. 160.00

B Tk. 163.20

C Tk. 249.73

D Tk. 332.80

Solution

Correct Answer: Option D