## Total Amount Compound Half Yearly calculator

## Definition of Compound Interest

After the completion of a specific period interest acquired on the principal as well as the interest due on the principal is called Compound Interest.

**Principal:**

The money which is borrowed or deposit for a certain amount of time is called principle. It is represented by P.

**Amount :**

The sum of principal and the interest from the principal with a certain amount of rate within a certain period of time is called Amount. It is denoted by A.

**Rate of Interest :**

The rate at which the money is lent or given to the borrower is called the rate of interest. It is generally represented by the R and specified in percentage form.

The formula for compound interest is:**CI = P (1 + R/100) ^{(T)}-1**

where,

P= Principle or Investment amount

R = Annual Interest Rate

T = time for which money is invested

CI = Compound Interest

## Compound Interest calculated Half Yearly Formula

^{For compound interest calculated half-yearly, the rate becomes half and time will become doubled}

**A = P (1 + R/(2*100)) ^{(2*n)}**

Where,

P= Principle or Investment amount

R = Annual Interest Rate

n = number of times that interest is calculated per unit time

### What is the difference between simple interest and compound interest?

**Simple interest** is calculated on the principal, or original amount of a loan.

**Compound interest** is calculated after the completion of a specific period of interest acquired on the principal as well as the interest due on the principal.

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