The simple interest rate per year required to accumulate the same amount of money in...

70.2K

Verified Solution

Question

Accounting

image
The simple interest rate per year required to accumulate the same amount of money in 2 years at 20% per year compound interest is 21% 22% 23% 20.5%

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students