Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If you deposited $10,000 17 years ago and now it is worth $20,000, what rate of interest did you make if the compounding was monthly?

If you deposited $10,000 17 years ago and now it is worth $20,000, what rate of interest did you make if the compounding was monthly? Do not answer using %. Use four decimal places.

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

Step: 3

blur-text-image

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

Personal Finance

Authors: Jack Kapoor, Les Dlabay, Robert Hughes, Melissa Hart

14th Edition

1264101597, 9781264101597

More Books

Students also viewed these Finance questions

Question

Appreciate important legal implications of performance appraisals

Answered: 1 week ago