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
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Determine the interest rate necessary for $1500 to amount to $2075 in 6 years with interest compounded semi-annually
Answer by
ewatrrr(24785)
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Hi,
= r/2
.0274 = r/2
.055 = r , rate is 5.5%
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