Question
Find the interest rate required for an investment of $7000 to grow to $9500 in 8 years if interest is compounded as follows. a.
Find the interest rate required for an investment of $7000 to grow to $9500 in 8 years if interest is compounded as follows. a. Annually b. Quarterly a. Write an equation which relates the investment of $7000, the desired value of $9500, and the time period of 8 years in terms of r, the yearly interest rate (written as a decimal), and m, the number of compounding periods per year.
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Calculus With Applications
Authors: Margaret L. Lial
12th Edition
978-0135871348, 0135871344
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