Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You need to turn $12,672 dollars into $19,868 dollars in 9 years. Assuming you make no extra deposits, what interest rate would you need from

image text in transcribed
You need to turn $12,672 dollars into $19,868 dollars in 9 years. Assuming you make no extra deposits, what interest rate would you need from a bank in order to accomplish this? State the percentage rate to two places, and do not use the % symbol

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

12th Edition

125996776X, 9781259967764

More Books

Students also viewed these Finance questions

Question

Self-confidence

Answered: 1 week ago

Question

The number of people commenting on the statement

Answered: 1 week ago