Question

Which is better investment 8% compounded half-yearly or 7.9% compounded

monthly?​

Answer 1

Answer:

7.9% compounded monthly

Answer 2

Answer:

7.9% compounded half yearly

Step-by-step explanation:

Let’s assume two people saved 1000 with the two plans for a year

Formula Amount = principle (1+r/100)^n

8% half yearly =8/2=4%

=1000(1+4/100)^2

=1081.6

7.9% monthly =7.9/12=0.6583%

=1000(1+0.6583/100)^12

=1081.92....greater

Please mark as brainliest