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A $1000 dollar deposit is put into a savings account. Which of the following compound frequencies will ensure highest interest earned in 5 years?  A. Quarterly B.Annually C. Monthly D. Semiannually
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A $1000 dollar deposit is put into a savings account. Which of the following compound frequencies will ensure highest interest earned in 5 years? 

A. Quarterly 
B.Annually 
C. Monthly 
D. Semiannually

User Rien
by
8.4k points

2 Answers

4 votes

Answer:

Monthly

Step-by-step explanation:

Ap3x

User Aaron Drenberg
by
9.2k points
0 votes
B - Monthly
Because the more compounds per year the better the outcome.

Quarterly = 4 times per year
Annually = 1 time a year
Semiannual = 2 times per year
Monthly = 12 times per year
User Lukiller
by
8.1k points
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