Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

need answer plzzzzz Q3: Assume that you are investing a certain sum of money (assume any amount without using 0 to form the number eg.

image text in transcribed

need answer plzzzzz

Q3: Assume that you are investing a certain sum of money (assume any amount without using 0 to form the number eg. 11111) at simple interest for a period of 10 years, so that after 10 years you get 2.8 times return of the number you assumed (eg 2.8x 11111). What will be the rate of interest applicable if it is compounded annually, if you invest the same amount for the same period with the same return. If you invest Rs.2000 annually at the same rate of compound interest what will be the return after a period of 8 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

Advanced Modelling In Mathematical Finance

Authors: Jan Kallsen, Antonis Papapantoleon

1st Edition

3319458736, 978-3319458731

More Books

Students also viewed these Finance questions