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

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asked May 14, 2019 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?

Business
high-school

Ion Stoica asked

by Ion Stoica

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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

Nicu answered May 16, 2019

by Nicu

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4 votes

Answer:

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

Bluesmonk answered May 19, 2019

by Bluesmonk

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