Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. if an investment grew to $14,500 in 3 years and th

If an investment grew to $14,500 in 3 years and the interest amount earned was...

70.2K

Verified Solution

Question

Finance

If an investment grew to $14,500 in 3 years and the interest amount earned was $1,639.63, calculate the nominal interest rate compounded quarterly.

How long will it take for an investment to at least double its original amount if it is growing at 3.75% compounded monthly?

Answer & Explanation Solved by verified expert
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!
Become a Member

Other questions asked by students

Q

Only a portion of the duration of a single twitch includes increasing tension within a muscle...

Biology
Q

a few words, your own, about proteins, nucleic acids, lipids and carbohydrates. (small paragraph).

Medical Sciences
Q

Scenario Office Equipment, Inc. (OEI) leases automatic mailing machines to business customers in Fort Wayne, Indiana. The...

Advance Math
Q

Social desirability bias occurs when respondents give answers to questions that they believe will make...

Basic Math
Q

A company reports the following: actual total overhead of $1,960; budgeted (flexible) overhead at...

Accounting
Q

1. Describe the advantages of franchising. Include a detailed example of a successful franchise. ...

Accounting
Q

Required information Exercise 12-8(Algo) Payback Period and Simple Rate of Return [L012-1, LO12-6] ...

Accounting
Q

I need some managerial accounting help from the Financial and Managerial Accounting for MBAs, 5E...

Accounting
Q

walmart annual report for the past five years

Accounting
Q

Does the difficulty in determining the current value of an asset create a problem in...

Accounting
Q

Which of the following is not part of working capital? Accumulated depreciation Accounts Payable Accounts...

Finance
Q

Exercise 10-11 (Algo) Straight-Line: Bond computations, amortization, and bond retirement LO P2, P4 On January...

Accounting