Business

Question

3. Is it better to have your interest compounded annually, quarterly, or daily? Why?

1 Answer

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    Answer: Daily, because your money will have more money have interest on it. For example if 5$ is compounded annually and you get 1.3% a year, then you will get 5.013$ at the end of the year. But if it is compounded daily, at the end of the year you will have 5.07$ which is a lot more.

    Explanation:

    I hope this helped!

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