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What is the formula for compound interest half yearly?
If interest is compounded half yearly, rate of interest = R / 2 and A = P [ 1 + ( {R / 2} / 100 ) ]T, where 'T' is the time period. For example, if we have to calculate the interest for 1 year, then T = 2
Time Compound Interest Formula
6 months [Compounded half yearly] P[1 + (r/2)2t] – P
3 months [Compounded quarterly] P[1 + (r/4)4t] – P
1 month [Monthly compound interest formula] P[1 + (r/12)12t] – P
365 days [Daily compound interest formula] P[1 + (r/365)365t] – P
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