m2addyS2abyForestill m2addyS2abyForestill
  • 07-12-2016
  • Mathematics
contestada

Find the interest rate needed for an investment of $9,000 to quadruple in 15 years if interest is compounded quarterly. (round your answer to the nearest hundredth of a percentage point.)

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Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 08-12-2016
4p=p(1+i/4)^60,,4^1/60=1+i/4...now your turn..solve for i
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