Q:A building society adds interest to investors account even though interest rates are expressed in annual terms. The current rate of interest is 6% per annum. An investor deposits $1000 on 1st January. How much interest will have been earned by 30th June? A 30.00 B 30.38 C 60.00 D 300
I am applying this formula : [ (1+r) ^ n -1 ] x 100