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 $${\left( {1 + \frac{{\text{i}}}{{\text{m}}}} \right)^{\text{n}}}$$
B $${\left( {1 + \frac{{\text{i}}}{{\text{n}}}} \right)^{\text{m}}}$$
C $${\left( {1 + \frac{{\text{i}}}{{\text{n}}}} \right)^{\frac{1}{{\text{m}}}}}$$
D $${\left( {1 + \frac{{\text{i}}}{{\text{m}}}} \right)^{\frac{1}{{\text{n}}}}}$$

Correct Answer: $${\left( {1 + \frac{{\text{i}}}{{\text{m}}}} \right)^{\text{n}}}$$

Bissoy MCQ
#Civil Engineering #Engineering Economics

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