Financials Maths- Credited Interest You invest £1,000 in an account for 5 years at 9% pa nominal. How much will you get at the end of the 5 years if the interest is is credited:
a) annually;    b) 6 monthly;     c) 3 monthly;     d)monthly?
Approximate how much you would get if interest was credited daily. Which method would you prefer.

So I have managed to do it for a) annually using   $1000(1.09)^5 = 1538.62$
However I have no idea what to for parts b, c or d. I originally thought that I could do $1000(1.09)^{10}$ because of it being split into 6 months but it did not come out right.
Any help would be greatly appreciated.

Hint:  You are correct for the annual calculation.  If the interest is credited every half year, you get half the amount of interest ($4.5\%$) each time, so it would be $1000(1.045)^{10}$  You should find that shorter crediting periods are better.
