Question
3. (a) A loan of $5000 earns $750 interest in 1.5 years. Find the rate of interest. (b) How many years will it take for
3. (a) A loan of $5000 earns $750 interest in 1.5 years. Find the rate of interest.
(b) How many years will it take for an investment to triple itself if the interest is 5%?
(c) What is the compound amount of $3000 for 15 years with interest at 7.25%?
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
Technical Analysis Of Stock Trends
Authors: Robert D. Edwards, John Magee, W.H.C. Bassetti
8th Edition
0814406807, 978-0814406809
