Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

One year ago, you invested $3,400. Today, it is worth $4,150. What rate of interest did you earn? Multiple Choice 4.53 percent es 5.53 percent

image text in transcribed

image text in transcribed

image text in transcribed

One year ago, you invested $3,400. Today, it is worth $4,150. What rate of interest did you earn? Multiple Choice 4.53 percent es 5.53 percent 1.84 percent O 2206 percent 11.03 percent When your father was born 45 years ago, his grandparents deposited $125 in an account for him. Today, that account is worth $1,500. What was the annual rate of return on this account? Multiple Choice 6.25 percent 5.45 percent 5.68 percent O 5 30 percent 424 percent An investor who was not as astute as he believed invested $282,500 into an account 9 years ago. Today, that account is worth $218,400. What was the annual rate of return on this account? Multiple Choice -282 percent O -247 percent 263 percent 2.90 percent 3.38 percent

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

Financial Markets and Institutions

Authors: Anthony Saunders, Marcia Cornett

6th edition

9780077641849, 77861663, 77641841, 978-0077861667

More Books

Students also viewed these Finance questions

Question

Which method of valuing a business is best? Why?

Answered: 1 week ago