Mandarin Bank advertises 9.5% account that yields 9.84% annually. Find how often the interest is compounded ?
(A) Monthly
(B) Bimonthly
(C) Quarterly
(D) Annually
Mandarin Bank advertises 9.5% account that yields 9.84% annually. Find how often the interest is compounded ?
| Share this... |
 Facebook
|
 Twitter
|
 Linkedin
|
 Whatsapp
|
Related Mcqs
- Previous:A sum of P1,000 is invested now and left for eight years, at which time the principal is withdrawn. The interest has accrued is left for another eight years. If the effective annual interest rate is 5%, what will be the withdrawal amount at the end of the 16th year ?
- Next:A student plans to deposit P1,500 in the bank now and another P3,000 for the next 2 years. If he plans to withdraw P5,000 three years from after his last deposit for the purpose of buying shoes, what will be the amount of money left in the bank after one year of his withdrawal? Effective annual interest rate is 10% ?
Leave a Reply
Your email address will not be published. Required fields are marked *
