Identify the number of compounding periods when interest is compounded yearly (annually).

• 1

• 3

• 52

• 12

Identify the number of compounding periods when interest is compounded monthly.

• 365

• 4

• 12

• 52

Identify the number of compounding periods when interest is compounded daily.

• 365

• 52

• 1

• 26

Identify the number of compounding periods when interest is compounded quarterly.

• 3

• 4

• 12

• 1

Identify the number of compounding periods when interest is compounded every 6 months.

• 6

• 3

• 2

• 12

Identify the number of compounding periods when interest is compounded weekly.

• 52

• 26

• 365

• 12

Identify the number of compounding periods when interest is compounded fortnightly.

• 12

• 52

• 26

• 4

The compound interest formula is as follows A=P(1+i)ⁿ. Identify what, i represents.

• Interest

• Principal

• Decimal

• Number of compounding periods

The compound interest formula is as follows A=P(1+i)ⁿ. Identify what P represents.

• Amount

• Interest

• Number of compounding periods

• Principal

The compound interest formula is as follows A=P(1+i)ⁿ. Identify what n represents.

• Principal

• Number of compounding periods

• Interest

• Amount