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what is the formula of compound interest is compounded half yearly. If the rate of interest is annual and the interest is compounded half-yearly ie 6 months or 2 times in a year then the number of years n is doubled ie made 2n and the rate of annual interest r is halved ie made r 2. To find compound interest when interest is compounded half yearly we use the following formula.
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With different interest rates for different years Say x for year 1 y for year2 z for year3 Total Amount P 1 x100 x 1 y100 x 1 z100 Where CI Compound Interest P Principal or Sum of amount R Rate per annum n Time Span in years. A P 1rnnt. R 20 n 15 year 3 half-yearly This said that the interest is compounded half-yearly.
If the rate of interest is annual and the interest is compounded half-yearly ie 6 months or 2 times in a year then the number of years n is doubled ie made 2n and the rate of annual interest r is halved ie made r 2.
Compound interest is the concept of adding accumulated interest back to the principal sum so that interest is earned on top of interest from that moment on. The Formula to Calculate the Compound Interest when Interest Rate is Compounded Half Yearly is given by Let Principal P Rate of Interest r2 time 2n Amount A Compound Interest CI then A P 1r2100 2n In the Case of the Half-Yearly Compounding Rate Interest is divided by 2 and the number of years is multiplied by 2. Find the CI if Rs 1000 was invested for 15 years at 20 pa. Compound Interest Amount Principal.
