SOLUTION: Suppose a principle amount of $1,305 were invested at an annual rate of 4.3% compounded monthly for 9 years. How many compounding periods would this be?

Question 1148309: Suppose a principle amount of $1,305 were invested at an annual rate of 4.3% compounded monthly for 9 years. How many compounding periods would this be?
Answer by ikleyn(52787) (Show Source): You can put this solution on YOUR website!
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Suppose a principal amount of $1,305 was invested at an annual rate of 4.3% compounded monthly for 9 years.
How many compounding periods would this be?
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12*9 = 108 compounding periods.

9 years, 12 compounding periods each year.

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