PV = $1000
Year = 5
FV = $1380.42
m = 5*4 = 20
r = ?
If we put this value in compound interest formula then we will get the missing r = 6.5%
The interest rate = 6.5 (Ans.)
11 You invest $1,000 in a bank which compounds interest quarterly. You leave the money in...
DI ou invest $1,000 in a bank which compounds interest quarterly. You leave the money in the bank for 5 years. w grows to $1,380.42 What was the nominal rate of interest? Show your work: $ 1,000.00 13801:41 nominal rate interes PVA = CF/r x (1 - Fortalas TVM Type here to search
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