Join ExamsbookAnswer : 2. "How often your interest is calculated and added back into your account"
"Compounding frequency" refers to5
Q: "Compounding frequency" refers to
- 1What type of interest your account earnsfalse
- 2How often your interest is calculated and added back into your accounttrue
- 3What interest rate you can expect from your accountfalse
- 4How easily you can add money into your accountfalse
- Show AnswerHide Answer
- Workspace
Answer : 2. "How often your interest is calculated and added back into your account"
Explanation :
Answer: B) How often your interest is calculated and added back into your account Explanation: Compounding frequency : The time periods when interest will be calculated on top of the original loan amount (or) The number of compounding periods in one year. The greater the compounding frequency, the more often your interest is calculated and added back into your account.