Question

Using the compound interest formula, the "n" is what value when compounded annually?

Answer 1

If interest is compounded yearly, then n = 1; if semi-annually, then n = 2; quarterly, then n = 4; monthly, then n = 12; weekly, then n = 52; daily, then n = 365; and so forth, regardless of the number of years involved. Also, "t" must be expressed in years, because interest rates are expressed that way.

Explanation:

It's a snip-it from the web, but it worked for me.

Answer 2

n=1

Explanation:

N is the number of times per year

Annually would be one time per year so n =1