Step 1 : Introduction to the question "Anthony is deciding between different savings accounts at his bank. He has four options, based on how frequently interest compounds. Which should he choose if he wants the best rate of return on his interest? "
...A.) Monthly Compounding B.) Daily Compounding* C.) Annual Compounding D.) Semi-Annual Compounding - Compounding is the process of charging interest on the interest generated on an account. If interest is compounded daily that means that the calculation occurs each day of the year (365 days). 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.
Step 2 : Answer to the question "Anthony is deciding between different savings accounts at his bank. He has four options, based on how frequently interest compounds. Which should he choose if he wants the best rate of return on his interest? "
Daily Compounding:
Please let us know as comment, if the answer is not correct!
Step 3 : Disclaimer & Terms of Use regarding the question "Anthony is deciding between different savings accounts at his bank. He has four options, based on how frequently interest compounds. Which should he choose if he wants the best rate of return on his interest? "
Our machine learning tool trying its best to find the relevant answer to your question. Now its your turn, "The more we share The more we have". Share our work with whom you care, along with your comment ...Kindly check our comments section, Sometimes our tool may wrong but not our users.
Are We Wrong To Think We're Right? Then Give Right Answer Below As Comment
No comments:
Post a Comment