Interest compounded monthly is compounded how many times a year?

monthly is 12 and weekly is 52

Step-by-step explanation:

Compound Interest". I have the formula below where I would get an answer to the total value of the investment over a period of "years".

A = Future value

P = Principal amount

R = Annual interest rate

N = Number of times compounded each year

T = The number of years the money is invested for

A=P(1+RN)NT

So for example if I have the following:

P=5,000$

R=5%=0.05

N=12 (Compounded monthly)

T=10 years

The answer for A will be equal to $8,235.05

My question is how can I derive the equation above to account for the period of years and months? So, for example, how would I calculate A if I had T being equals to T = 10 years + 6 months?

I think that the answer to the equation derivation is shown below but I'm not sure: A=P(1+RN)N(10+1/2)

Annual compounding: Interest is calculated and paid once a year. Quarterly compounding: Interest is calculated and paid once every three months. Monthly compounding: Interest is calculated and paid each month. Daily compounding: Interest is calculated and paid every day.

b

step-by-step explanation: