Answered

When investing money in a bank account, in which situation will you have the most money in your account at the end of five years?

A. Compounded semiannually
B. Compounded quarterly
C. Compounded monthly
D. Compounded weekly



Answer :

GinnyAnswer

Final answer:

Compounded daily results in the most money in the account due to compound interest.


Explanation:

Compounded daily results in the most money in your account at the end of five years. The more frequent the compounding period, the more your investment grows due to the power of compound interest.


Learn more about Compound Interest here:

https://brainly.com/question/14295570


Other Questions