Question
QUESTION 4 Fast Growth Investment Company offers an investment that promises to triple your money in 21 months. This investment promises to credit interest to
QUESTION 4
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Fast Growth Investment Company offers an investment that promises to triple your money in 21 months. This investment promises to credit interest to your account every quarter, that is, the interest is compounded quarterly. What annual percentage rate (APR) must the investment earn to meet the promised return? (Hint: Find quarterly rate first.)
A. 80.37%
B. 67.97%
C. 51.93%
D. 35.27%
E. 103.97%
F. 87.61%
G. 75.68%
H. 45.01%
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Financial Management For Public, Health, And Not-for-Profit Organizations
Authors: Steven A. Finkler, Daniel L. Smith, Thad D. Calabrese, Robert M. Purtell
6th Edition
150639681X, 978-1506396811
