If $5,000,000 is the initial amount placed in an account that collects 7% annual interest, which of the following compounding rates would produce the largest total amount after two years?
-
Acompounding annually
-
Bcompounding quarterly
-
Ccompounding monthly
-
Dcompounding daily
-
EAll four of these would produce the same total
显示答案
正确答案: D