what does it mean to say that interest is compounded semiannually? assume a 365 - day year. compounded…
what does it mean to say that interest is compounded semiannually? assume a 365 - day year. compounded semiannually means the interest is compounded time(s) a year.
Answer
Brief Explanations:
The term "semi - annually" means twice a year. In the context of compound interest, it implies that the interest is calculated and added to the principal two times in a year.
Answer:
2