Register

A $1000 deposit is put into a savings account. Which of the following compounding frequencies will ensure highest interest earned in 5 years?

A $1000 deposit is put into a savings account. Which of the following compounding frequencies will ensure highest interest earned in 5 years?
asked 155k views
4 votes
A $1000 deposit is put into a savings account. Which of the following compounding frequencies will ensure highest interest earned in 5 years?

asked
User Ion Stoica
by
8.4k points

2 Answers

4 votes

Answer:

Monthly

Step-by-step explanation:

Ap3x

A $1000 deposit is put into a savings account. Which of the following compounding-example-1
answered
User Nicu
by
7.6k points
4 votes

Answer:

monthly, but if it's over 7YEARS, then annually

answered
User Bluesmonk
by
8.4k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

In what way did the GI Bill contribute to the growth of professional and white-collar jobs ? A.by providing US laborers with new job-training programs B.by giving US veterans assistance to purchase a new
What is meant by data mining ?
What is the best way to describe a stock market?
Link Copied!