Suppose you are planning to deposit $10,000 in a bank account. You'd like your deposit to grow
Fantastic news! We've Found the answer you've been seeking!
Question:
Suppose you are planning to deposit $10,000 in a bank account. You'd like your deposit to grow to $13,000 after 5 years. If interest in the account compounds weekly, what annual interest (i) rate do you need? Answer in percent and round to one decimal place.
Related Book For
Foundations of Finance The Logic and Practice of Financial Management
ISBN: 978-0132994873
8th edition
Authors: Arthur J. Keown, John D. Martin, J. William Petty
Posted Date: