Assuming monthly compounding frequency. How many periods ("n") are there in 24 years

Question

Assuming monthly compounding frequency.  How many periods ("n") are there in 24 years

BlackTom AI · Accepted Answer

This task involves interpreting the meaning of periods under monthly compounding.
First, identify the compounding frequency: monthly means there are 12 compounding periods in one year.
Next, convert the total time span into years to the same unit: 24 years remain 24 years, so we multiply years by periods per year to get the total number of periods.
Compute the product: 24 years × 12 periods/year = 288 periods.
Therefore, the total number of compounding periods n over 24 years with monthly compounding is 288.
If you were asked to include any fractional periods or partial months, you would need additional information, but with standard monthly compounding over whole years, 288 is the count.
In summary, monthly compounding yields 12 periods per year, and 24 years contain 24 × 12 = 288 periods.

BFIN011 Week 1: Practice Quiz

Assuming monthly compounding frequency. How many periods ("n") are there in 24 years

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