3. Value 1.00 points If regular month-end deposits of $200 in an Investment account amounted to...

Question

Question

3. Value 1.00 points If regular month-end deposits of $200 in an Investment account amounted to $7,727 62 after three years,

Answer 1

Answer #1



Investment amount	7727.62
Monthly deposit	-200
Period(terms in months)	36
Compounding periods per year	12

Interest rate	-0.3774%	(Rate(36,-200,7727.62)

Hence, interest rate is	0.38% compounded monthly

f =	4.66%	(1.0038^12-1)

Answer 2

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