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Please answer the questions, and show your work. If $7,000 invested in a bank account for 5 years, compounded quarterly, amounts to $8,193.08, what is
Please answer the questions, and show your work.
If $7,000 invested in a bank account for 5 years, compounded quarterly, amounts to $8,193.08, what is the annual interest rate paid by the account? Round your answer to four decimal places, after writing the rate as a percentage. The annual interest rate paid by the account is 3.1606 X %. If $600 is borrowed and the interest earned after 15 months is $52.50, what is the annual interest rate for a simple interest loan? (Round your answer to four decimal places.) The annual interest rate is -16.1314 %. At what annual interest rate (as a percent), compounded continuously, do you need to invest at in order to triple an investment in 12 years? (Round your answer to four decimal places.) %Step by Step Solution
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