fill in each blank so that the resulting statement is true. if compound interest is paid once per year, the…

fill in each blank so that the resulting statement is true. if compound interest is paid once per year, the compounding period is _ month(s) and the interest is compounded _. if compound interest is paid once per year, the compounding period is month(s) and the interest is compounded

fill in each blank so that the resulting statement is true. if compound interest is paid once per year, the compounding period is _ month(s) and the interest is compounded _. if compound interest is paid once per year, the compounding period is month(s) and the interest is compounded

Answer

Explanation:

Step1: Recall compound - interest concept

If compound interest is paid once per year, the time - interval between each interest - calculation is 1 year. Since 1 year has 12 months, the compounding period is 12 months.

Step2: Define compounding frequency term

The term for compounding once per year is "annually".

Answer:

12; annually