queenkayhours queenkayhours

20-04-2024
Mathematics

contestada

Jeff invests $500 one time at an annual interest rate of 8% that is compounded quarterly for 10 years. How many periods will the interest be calculated (compounded)?

Respuesta :

regalmocha17 regalmocha17

20-04-2024

Answer:

40 periods

Step-by-step explanation:

Given that the compounding rate is quarterly, which means once every 3 months over a length of 10 years. The period would be:

10 x 4 = 40

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