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A principal of $2000 is accumulated with 7.5% interest compounded monthly for 4 years. What is the number of compounding per year?

A principal of $2000 is accumulated with 7.5% interest compounded monthly for 4 years. What is the number of compounding per year?
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4 votes
A principal of $2000 is accumulated with 7.5% interest compounded monthly for 4 years. What is the number of compounding per year?

asked
User Andrux
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7.8k points

1 Answer

2 votes

Explanation:

Your question states ' compounded monthly' so the number of 'compounding per year' is 12

answered
User Giuliopime
by
8.2k points
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