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If a bank compounds interest semiannually for 3 years how many total compounding periods will be there? |
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Answer» ong>ANSWER: it will be 6 Step-by-step explanation: the bank compounds semiannually which means that the time period will become 2n where n is the time given in years( according to the formula so, according to the formula above, we get n as 3 and the time will be 2*n=2*3=6 So the compounding PERIODS will be 6 |
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