Question: 1. Deniz invests $ 9 , 8 0 0 in a deposit account; After 3 years, its value is $ 1 3 , 2 5

1. Deniz invests $9,800 in a deposit account; After 3 years, its value is $13,250. What is the rate of return on investment?

2. Derya deposits $5,000 into a bank account compounded quarterly. The yearly interest rate is 8%. What is the value (worth) of the investment after 2 years?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

1 To calculate the rate of return on investment we can use the formula for compound interest Future ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!