In which of the following scenarios would you have the most money at the end of the year? 3% compounded yearly 2% compounded monthly 2% compounded yearly 2% compounded weekly

3% compounded yearly

Hi there

Let's assume that your initial deposite is 100 for 1 year

The formula is

A=p (1+r/k) ^kt

Let's try each option to see which one is the most money at the end of the year

3% compounded yearly

A=100 * (1+0.03)

=103

2% compounded monthly

100 * (1+0.02:12) ^ (12)

=102.018

2% compounded yearly

100 * (1+0.02)

=102

2% compounded weekly

100 * (1+0.02:52) ^ (52)

=102.019

So it's A

Good luck!