derive the formula of compound interest from simple interest
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Let us calculate the compound interest on a principal, P kept for 1 year at interest rate R % compounded half-yearly. Hence, for the cases, when the rate is compounded half yearly, we divide the rate by 2 and multiply the time by 2 before using the general formula for amount in case of compound interest.
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the intrest given to interest calculated on the initial principal, which also includes all of the accumulated interest
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