Answered

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30. 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 weekly
D. Compounded monthly

Sagot :

GinnyAnswer

Final answer:

Compounding daily results in the highest account balance over five years.


Explanation:

Compounded daily would result in having the most money in your account at the end of five years. The more frequent the compounding period, the higher the amount due to earning interest more frequently. For example, if $1,000 is compounded daily at a 12% interest rate, it would yield more than if compounded quarterly, monthly, or semiannually.


Learn more about Compound Interest here:

https://brainly.com/question/14295570


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