SOLUTION: in 1963 if you purchased a book for 19 cents 52 years later the value of the book rose to 16,223.00. What was the interest rate earned if you brought the book in 1963 and sold it

SOLUTION: in 1963 if you purchased a book for 19 cents 52 years later the value of the book rose to 16,223.00. What was the interest rate earned if you brought the book in 1963 and sold it

Algebra.Com

Question 1094003: in 1963 if you purchased a book for 19 cents 52 years later the value of the book rose to 16,223.00. What was the interest rate earned if you brought the book in 1963 and sold it 52 years later?
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
Depends.
Using simple interest, or compound?
If compound, what period?

RELATED QUESTIONS
Eight students in Ms. Reese's dass decided to purchase their textbook from two different... (answered by mila nedic,MathTherapy)

a company just purchased a new machine for $1,200,000. The company choose to depreciate... (answered by ewatrrr)

A car which cost $18,900 when new is depreciated linearly for a period of 10 years. At... (answered by josmiceli)

A man purchased 180 copies of a book at N250.00 each. He sold y copies at N300.00 each... (answered by Alan3354)

Suppose that Laura has just purchased a new car for $275,000. The car depreciates using... (answered by richwmiller)

Word Problem: A company purchased a car for $25,000, and expect its value to depreciate (answered by josmiceli)

Supreme Auto Service opened a new service center three decades ago. At the time the... (answered by ikleyn)

A piece of machine is purchased for $1,000,000. Accountants of the firm decided to use... (answered by CPhill)

Tristan and two of his friends purchased tickets to a school play. Tristan paid for all... (answered by solver91311)