If a bank compounds interest monthly for years, how many total compound periods are there?
A) There are 21 total compound periods.
B) There are 7 total compound periods.
C) There are 14 total compound periods.
D) There are 42 total compound periods.

Question

If a bank compounds interest monthly for   years, how many total compound periods are there?
A) There are 21 total compound periods. 
B) There are 7 total compound periods. 
C) There are 14 total compound periods. 
D) There are 42 total compound periods.

Quizplus · Accepted Answer

The Answer of If a bank compounds interest monthly for   years, how many total compound periods are there?
A) There are 21 total compound periods. 
B) There are 7 total compound periods. 
C) There are 14 total compound periods. 
D) There are 42 total compound periods.

If a Bank Compounds Interest Monthly for Years