What interest rate would be needed for a $9600 investment that is compounded semi-annually for...

70.2K

Verified Solution

Question

Basic Math

image

What interest rate would be needed for a $9600 investment that is compounded semi-annually for 9 years if it needed to have a future value of $13000? (answer in percent form to 2 decimal places)

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