Register
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
56.9k views
0 votes
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
6.5k points

2 Answers

4 votes

Answer:

Monthly

Step-by-step explanation:

Ap3x

User Aaron Drenberg
by
7.0k 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
5.8k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

6.6m questions

8.8m answers

Other Questions

What is the least common denominator of the four fractions 20 7/10 20 3/4 18 9/10 20 18/25
What is 0.12 expressed as a fraction in simplest form
arlos has $690,000 he wants to save. If the FDIC insurance limit per depositor, per bank, is $250,000, which of these ways of distributing his money between three banks will guarantee that all of his money
Solve using square root or factoring method plz help!!!!.....must click on pic to see the whole problem
What is the initial value and what does it represent? $4, the cost per item $4, the cost of the catalog $6, the cost per item $6, the cost of the catalog?
Link Copied!