Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1. You invested a sum of 1800$ at the interest rate of 8% for a certain duration. At the expiration, you immediately reinvested with interest
1. You invested a sum of 1800$ at the interest rate of 8% for a certain duration. At the expiration, you immediately reinvested with interest rate of 8,15% for 4 years. At the end of these 4 years, you have withdrawn a total amount of 3447.52$. Find the duration of the first investment. (5 points)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started