Assume you deposit 25% of your monthly check of $5500 into a savings account at a credit union that compounds interest semiannually. What is the compounding period? A) CP=2 months B) CP=4 months C) CP=6 months D) CP=8 months O D O A O B

Assume you deposit 25% of your monthly check of $5500 into a savings account at a credit union that compounds interest semiannually. What is the compounding period? A) CP=2 months B) CP=4 months C) CP=6 months D) CP=8 months O D O A O B

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

100%

Assume you deposit 25% of your monthly check of
$5500 into a savings account at a credit union that
compounds interest semiannually. What is the
compounding period?
A) CP=2 months
B) CP=4 months
C) CP=6 months
D) CP=8 months
O D
O A
O B

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