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what is the formula for semi annual compound interest. Of days if applicable eg. Tax CreditsCC-BY-20 The formula for interest compounded annually is FV P 1rn where P is the principal or the amount deposited r is the annual interest rate and n is the number of years the money is in the bank.
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Then the compound-interest equation for an investment period of t years becomes. Following is the formula for calculating compound interest when time period is specified in years and interest rate in per annum. For example if the annual interest rate equals 92 percent you would divide 92 by 2 to find the semiannual rate to be 46 percent.
The same change is applied for the formula applicable to compound interest rates.
T Time period in years. Average Annual Interest Total Interest Earned Time Average Annual Interest 33823 5 6765. For example if the annual interest rate equals 92 percent you would divide 92 by 2 to find the semiannual rate to be 46 percent. A P 1rnnt.
