Asked by Ashley

At what rate of interest would an investment have to be paid for an initial $900 to grow into $1400 in 12 years if the investment was compounded quarterly?
Answered by Steve
900(1+r/4)^(4*12) = 1400
r = .0369 ≈ 3.7%
Answered by Scott
1400 = 900 [1 + (i / 4)]^(12 * 4)

log(14 / 9) = 48 log[1 + (i / 4)]
There are no AI answers yet. The ability to request AI answers is coming soon!