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?
2 answers
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.
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.