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Question about deposits

M

MommysLittleMonster

Senior member
A single deposit is made today, lets say $1000.

The deposit stays in the account for 1 year.

Interest is compounded every month.


Wouldn't there be 12 compounding interest periods?




 
Originally posted by: Warthog912
seems like a simple yes to me, but I'm not a financial advisor/CPA/ Banker with common sense/ et all...
Click to expand...

My retard of a finance professor posted his "personal answers" to our HW from the book on his website. There are about 5 questions like this and for the amount of periods, he uses the amount of years.

I really think this is wrong.
 
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