What is the formula for compound interest compounded semi-annually?
Compound Interest Formula and Compounding Continuously

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Mathematics
•
10th - 12th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
The formula is: A = P(1 + r/n)^(nt), where A is the amount of money accumulated after n years, P is the principal amount (the initial amount of money), r is the annual interest rate (decimal), n is the number of times that interest is compounded per year, and t is the number of years the money is invested or borrowed.
2.
FLASHCARD QUESTION
Front
What does 'compounded continuously' mean in terms of interest calculation?
Back
Compounding continuously means that the interest is calculated and added to the principal at every possible moment. The formula used is A = Pe^(rt), where A is the amount of money accumulated after time t, P is the principal amount, r is the annual interest rate (as a decimal), and e is Euler's number (approximately 2.71828).
3.
FLASHCARD QUESTION
Front
If Karla invested $1,000 at an interest rate of 6.75% compounded semi-annually, how would you express this in an exponential equation?
Back
The equation would be: A = 1000(1 + 0.0675/2)^(2*15).
4.
FLASHCARD QUESTION
Front
What does the variable 'r' represent in the compound interest formula?
Back
The variable 'r' represents the annual interest rate expressed as a decimal.
5.
FLASHCARD QUESTION
Front
How many times a year does interest compound if it is compounded quarterly?
Back
Interest compounds 4 times a year if it is compounded quarterly.
6.
FLASHCARD QUESTION
Front
What is the initial amount of money if the final amount is given by the formula A = 3250e^(0.062*8)?
Back
The initial amount of money deposited is $3250.
7.
FLASHCARD QUESTION
Front
Convert 6.5% to a decimal.
Back
6.5% as a decimal is 0.065.
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