danceluva311 danceluva311

02-03-2017
Mathematics

Answered

An investor invests $100 in a certificate, which compounds semi-annually, for a time period of one year. If he wants to quadruple his money in one year, what interest rate would be needed?

Verified Answer :

Aliwohaish12 Aliwohaish12

10-03-2017

4p=p(1+i/2)^2
4=(1+i/2)^2 solve for I
Hope it helps

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