Question

Mia deposited $4,125 into a savings account 14 years ago. The account has an interest rate of 2.6% and the balance is currently $5,933.84. How often does the interest compound?

daily

monthly

quarterly

annually

Answer 1

who knows how to solve this

Answer 2

is it quarterly

Answer 3

what did u et

Answer 4

monthly.....don't ask me how...I plugged it into a calculator....just remember when your checking monthly, be sure and put 12 times annually...
http://www.moneychimp.com/calculator/compound_interest_calculator.htm

Answer 5

alrite chill

Answer 6

go to the link I posted and check for yourself....thank God for calculators..lol

Answer 7

true lol