Question

If interest is compounded half yearly,the the time period became _______​

Answer 1

Answer:

Compound interest is the interest calculated on the previous year's amount (A = P + I). We can also have interest rates compounded half-yearly or quarterly. If interest is compounded half-yearly, we compute the interest two times. So the time period becomes twice and rate is taken half.

Answer 2

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If interest is compounded half yearly, the time period becomes twice and rate is taken half..