SOLUTION: Determine the interest rate necessary for $1500 to amount to $2075 in 6 years with interest compounded semi-annually

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Question 853072: Determine the interest rate necessary for $1500 to amount to $2075 in 6 years with interest compounded semi-annually
Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!
 
Hi,


= r/2
.0274 = r/2
.055 = r , rate is 5.5%


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