In Tables for Calculating Compound Interest, the Number of Periods

question 91

Multiple Choice

In tables for calculating compound interest, the number of periods is equal to:

• A)Number of years divided by rate
• B)Number of years × rate
• C)Number of years × number of times compounded per year
• D)Number of years divided by number of times compounded per year
• E)None of these

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Definitions:

Bank Money Market Account

A savings account that typically offers a higher interest rate in exchange for larger deposit amounts and limited transaction capabilities.