21
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:
- A(1 + i/m)n
- B(1 + i/n)m
- C(1 + i/n)1/m
- D(1 + i/m)1/n
Correct answer: A