river726fsrs river726fsrs

10-07-2024
Mathematics

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 GinnyAnswer

10-07-2024

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

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