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A $1000 deposit is put into a savings account .which of the following compounding frequencies will ensure lowest interest earned in 7 years? a. monthly b. quarterly c. semiannually d. annually the correct
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A $1000 deposit is put into a savings account .which of the following compounding frequencies will ensure lowest interest earned in 7 years? a. monthly b. quarterly c. semiannually d. annually

the correct answer in (apex) annually

User Jason Novak
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2 Answers

5 votes

Answer:

Annually

Step-by-step explanation:

User R M
by
8.5k points
4 votes

Answer:

Annually

Step-by-step explanation:

You list the answer in your question, but this is true because the more times you compound interest, the higher the actual yield.

User Andrei Nikolaenko
by
8.5k points
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