Question
Suppose an investment offers to triple your money in 12 months (don't believe it). What rate of return per quarter are you being offered?
Answers
Casey
Triple your investment in 12 months? Per quarter means you are receiving a 75 percent return on investment every quarter. 3/4 cause quarters implies 4 in the denominator.
Brian
On this problem, theres one thing holding me up.
$3 = $1(1 + r)^(12/3)
What is r? I cant get it. I even had a sample problem along the same lines and couldn't get that on.
$3 = $1(1 + r)^(12/3)
What is r? I cant get it. I even had a sample problem along the same lines and couldn't get that on.