Calculate the value of a $50,000 investment currently held in an
investment fund that earns a...
70.2K
Verified Solution
Link Copied!
Question
Finance
Calculate the value of a $50,000 investment currently held in aninvestment fund that earns a nominal rate of 8% annually,compounded weekly, for 10 years. What is the effectiveinterest rate?
Answer & Explanation
Solved by verified expert
4.4 Ratings (666 Votes)
Information provided Present value 50000 Time 10 years52 520 weeks Interest rate 852 01538 per week The question is solved by computing
See Answer
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
