SOLUTION: Suppose that $25000 amounts to $37500 in 6 years with interest compounded monthly. Indicate what annual rate of compound interest has been used.
Algebra.Com
Question 1201589: Suppose that $25000 amounts to $37500 in 6 years with interest compounded monthly. Indicate what annual rate of compound interest has been used.
Answer by Glaviolette(140) (Show Source): You can put this solution on YOUR website!
RELATED QUESTIONS
An investment of $10000 is guaranteed to have a return of $25000 in 20 years. If the... (answered by jim_thompson5910)
Compound Interest: Suppose $4,000 is invested in each account below. In each case find... (answered by solver91311)
Find the balance after 4 years of a $2000 investment at 6% annual rate with interest... (answered by Boreal)
Find the balance after 6 years of a $3,000 investment at 4% annual rate with interest... (answered by rfer,ikleyn)
Suppose that a savings account pays an effective rate of interest of 9 percent. What is... (answered by ankor@dixie-net.com)
Help
1. When interest is added to the principal and interest is again... (answered by stanbon)
Ali invests $14 800 in an account that earns interest compounded semi-annually for 8... (answered by math_tutor2020)
If P20,000 invested at interest compounded annually amounts to P21,218 in two years, what (answered by math_helper)
Suppose you deposit $500 in an account with an annual interest rate of 8% compounded... (answered by KMST)