Perry deposited $8,250 into a savings account 13 years ago. The account has an interest rate of 4.7% and the balance is currently $14,988.59. How often does the interest compound?

daily

monthly

quarterly

annually

Question

Perry deposited $8,250 into a savings account 13 years ago. The account has an interest rate of 4.7% and the balance is currently $14,988.59. How often does the interest compound?

 daily

 monthly

 quarterly

 annually

anonymous · Answer

I think its  monthly

anonymous · Answer

well it could be annually well if u divide insted of timesing then it will show it being annual

anonymous · Answer

daily =365
montly=12
quaterly=4
annually=1