What equation do you use to compound interest bimonthly?
1 answer:
Answer:
According to the dictoinary here:
https://www.dictionary.com/browse/bimonthly
bimonthly COULD mean:
occurring every two months OR occurring twice a month
That means that the "n" in the graphic could equal 6 OR 24
Total = Principal * (1 + (rate/6) )^(6 * years) OR
Total = Principal * (1 + (rate/24) )^(24 * years)
Step-by-step explanation:
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