To determine the value of [tex]\( n \)[/tex], we need to understand what the phrase "compounded every six months" means in terms of the number of compounding periods in a year.
1. Understanding Compounding Periods:
- Compounding every six months means that interest is added to the principal twice a year, due to each year having twelve months and six going into twelve twice.
2. Interpreting the Compounding Frequency:
- Since a year has 12 months, and compounding occurs every 6 months, we can see that in one year, the interest will be compounded [tex]\( \frac{12}{6} = 2 \)[/tex] times.
Hence, [tex]\( n \)[/tex] represents the number of times the interest is compounded annually. In this situation, interest is compounded twice a year.
Therefore, [tex]\( n = 2 \)[/tex].
The correct answer is [tex]\( \boxed{2} \)[/tex].
