Question

explain me compound interest with examples of half yearly and annually...pls..don't spam


I need proper explanation with example ​

Answer 1

Answer:

If the rate of interest is annual and the interest is compounded half-yearly (i.e., 6 months or, 2 times in a year) then the number of years (n) is doubled (i.e., made 2n) and the rate of annual interest (r) is halved (i.e., made r2).