Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

11-12 both xx 11. What simple interest rate r is equivalent to a simple discount rate of 9% if money is invested for 42 weeks?

11-12 both xx image text in transcribed
11. What simple interest rate r is equivalent to a simple discount rate of 9% if money is invested for 42 weeks? (A) 9.89% (B) 8.39% (C) 9.71% (D) 8.26% 12. If money doubles at a certain rate of interest compounded monthly in 6 years, how long will it take for the same amount of money to triple in value at the same interest rate? (A) 9.05 years (B) 9.51 years (C) 8.35 years (D) 10.40 years

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Socionomic Theory Of Finance

Authors: Robert R. Prechter

1st Edition

0977611256, 978-0977611256

More Books

Students also viewed these Finance questions