Examlex
In colonial New England,
Compounded Semi-annually
A method of calculating interest where the interest is added to the principal sum twice a year, resulting in interest on interest.
Semi-annual Payments
Payments that are made twice a year as a means to fulfill a financial obligation.
Loan
A borrowed amount of money that should be returned along with an additional interest payment.
Nominal Interest Rate
The stated annual interest rate on which the compound-interest calculation is based.
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