Saved Bookmarks
| 1. |
If interest is compounded half yearly,the the time period became _______ |
|
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. |
|