SOLUTION: If $ 110000 is to grow to $ 250000 in ten years period, at what annual interest rate must it be invested, given that interest is compounded semi annually ?

Question 980996: If $ 110000 is to grow to $ 250000 in ten years period, at what annual interest rate must it be invested, given that interest is compounded semi annually ?
Answer by josgarithmetic(39620) (Show Source): You can put this solution on YOUR website!
That is two compoundings per year for ten years, making twenty compounding periods.

, the growth equation with the values filled; only interest rate r, is unknown; r is a decimal value, a fraction. You could also treat the binomial as a variable, if this is easier.

Evaluate or compute the righthand member.

, far more accuracy than meaningful.

Antilog of 0.0178273661756906284411161119654 will be 1+r.
...
For ONE compounding period, rate is 4.19%, so for a whole year, 8.38%.
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