If interest is paid more than once in a year, ‘i’ is the rate of interest pe

Question

If interest is paid more than once in a year, ‘i’ is the rate of interest per year, ‘n’ is the number of periods in years and ‘m’ is a number of periods per years, compound amount factor (CAF) is:

Options:

A . (1 + i/m)n

B . (1 + i/n)m

C . (1 + i/n)1/m

D . (1 + i/m)1/n

Answer: Option A

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