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Earn +20 ptsQ: Which is bigger compounded interest quarterly or compound interest monthly?
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Continue Learning about Other Math
Interest on maturity is better or monthly interest?
If you need a monthly income then obviously a monthly income is better. If the monthly interest is not withdrawn then it makes no difference because the annual interest rate is usually equal to the compounded monthly rate.
How do you determine the rate for one month for compounded interest?
On monthly compounding, the monthly rate is one twelfth of the annual rate. Example if it is 6% annual, compounded monthly, that is 0.5% per month.
How much money should be deposited at 4.5 percent interest compounded monthly for 3 years?
"How much money should be deposited at 4.5 percent interest compounded monthly for 3 years?"Incomplete question.... to do what?
Future value of 2000 in 5 years at interest rate of 5 percent?
Compounded annually: 2552.56 Compounded monthly: 2566.72
What is the effective annual rate of 8 percent interest that is compounded monthly?
0.67 percent
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