Asked by Anonymous
Jen made an initial investment of
$1000 into a T-Bill account. After 2
years, her investment totaled $1 175.
Calculate the rate of appreciation, r, of
the investment. Give answer to 2 decimal
places.
$1000 into a T-Bill account. After 2
years, her investment totaled $1 175.
Calculate the rate of appreciation, r, of
the investment. Give answer to 2 decimal
places.
Answers
Answered by
Reiny
1000(1+r)^2 = 1175
(1+r)^2 = 1.175
take √ of both sides and solve for r
(1+r)^2 = 1.175
take √ of both sides and solve for r
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