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It is compounded twice a year. The formula is A=P(1+rt) P is how much is put in, r is the percentage as a decimal, t is how many times it is compounded a year so in this case it would be 2.
So if deposited $1000 in a bank at 8% that is compounded semi annually, the formula would look like this. A=$1000(1+.08(2))
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Earn +20 ptsQ: What does it mean when they say interest compounded semi annually?
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Does Interest Compounded semi-annually double every year?
No.
What is the balance on a deposit of 1200 earning 9.5 percent interest compounded semiannually for 10 years?
9.5% semi-annually = 19.9025% annually.After 10 years 1200*(1.199025)^10 = 7369.93
If you invest 750 every six months at 8 percent compounded semi annually how much at the end of ten years?
$22334
How much money should be deposited today in an account that earns 6 percent compounded semi annually so that it will accumulate to 20000 in five years?
189.89
At what nominal compound interest rate compounded semi-annually will a sum of money be doubled in 21 months?
if there are two payments a year, at the beginning of the year and at 6 months, plus one payment at the end of 21 months then at an annualised compound rate of 21.9% your money will double in 21 months.
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