How many compounding periods are there in the investment below? Rate of Compound Compounding Interest per Year Time Principal Period quarterly 8 years 2.8% $11 000 a) 16 b) 2 c) 8 d) 32

Advanced Engineering Mathematics
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ISBN:9780470458365
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How many compounding periods are there in the investment below?
Rate of Compound Compounding
Interest per Year
Time
Principal
Period
8 years
2.8%
quarterly
$11 000
a) 16
b) 2
c) 8
d) 32
Transcribed Image Text:How many compounding periods are there in the investment below? Rate of Compound Compounding Interest per Year Time Principal Period 8 years 2.8% quarterly $11 000 a) 16 b) 2 c) 8 d) 32
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