Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What's the compound interest rate if $ 8 , 5 0 0 becomes $ 1 2 , 4 0 0 in 5 years compounded semiannually

What's the compound interest rate if $8,500 becomes $12,400 in 5 years compoundedsemiannually?

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

Principles Of Managerial Finance

Authors: Chad Zutter, Scott Smart

16th Global Edition

1292400641, 978-1292400648

More Books

Students also viewed these Finance questions

Question

Disordered eating in dance professionals

Answered: 1 week ago

Question

=+2. How can the revenue model of the music industry be described?

Answered: 1 week ago