In compound interest calculations,as the frequency of compounding increases,the:
A)total amount of interest decreases
B)annual interest rate increases
C)total amount of interest increases
D)the interest rate decreases

Question

Quizplus · Accepted Answer

In compound interest calculations, the more often the interest is compounded, the more interest is earned, resulting in an increase in the total amount of interest over time. Therefore, the correct choice is C.

In Compound Interest Calculations,as the Frequency of Compounding Increases,the