Hello! Annually means once a year so if it is compounded annually then it is compounded only once per year, meaning interest is added to principal only 1 time per year.
Hope this helps! Any questions please just ask!! Thank you so much!!
Carla = 5 years old Jim = 2 years old Peter = 15 years old (Peter was 14 years old one year ago) 5+2=7 7x2=14 (14 is the age from one year ago meaning 15 is the current age) 15-2=13
