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A principal of $2000 is accumulated with 7.5% interest compounded monthly for 4 years. What is the number of compounding per year?

A principal of $2000 is accumulated with 7.5% interest compounded monthly for 4 years. What is the number of compounding per year?
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A principal of $2000 is accumulated with 7.5% interest compounded monthly for 4 years. What is the number of compounding per year?

User Andrux
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1 Answer

2 votes

Explanation:

Your question states ' compounded monthly' so the number of 'compounding per year' is 12

User Giuliopime
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