A trader saved 50,000 in a bank which pays interest at 9 and half per annum. Find the amount in the traders account after 6years?

To calculate the amount in the trader's account after 6 years, we can use the formula for compound interest:

A = P(1 + r/n)^(nt)

Where:
A = the amount of money accumulated after n years, including interest
P = the principal amount (initial deposit)
r = the annual interest rate (in decimal form)
n = the number of times that interest is compounded per year
t = the number of years the money is invested for

In this case:
P = $50,000
r = 9.5% = 0.095
n = 1 (compounded annually)
t = 6 years

Plugging in the values:

A = $50,000(1 + 0.095/1)^(1*6)
A = $50,000(1.095)^6
A = $50,000(1.71892)
A = $85,946

Therefore, the amount in the trader's account after 6 years would be $85,946.

Step 1: Calculate the interest rate per year
Annual interest rate = 9 and half % = 9.5% = 0.095

Step 2: Calculate the interest earned for 6 years
Interest = Principal x Interest rate x Time
Interest = 50,000 x 0.095 x 6
Interest = 28,500

Step 3: Calculate the amount in the trader's account
Amount = Principal + Interest
Amount = 50,000 + 28,500
Amount = 78,500

Therefore, the amount in the trader's account after 6 years is 78,500.