A $3200 investment accumulated to $3343.34 after 5 months. What was the annual rate of interest? Answer

Fantastic news! We've Found the answer you've been seeking!

Question:

A $3200 investment accumulated to $3343.34 after 5 months. What was the annual rate of interest? Answer to 2decimal points,do not include the percent sign. Example,if you think the final answer is 3.25%,enter 3.25in the answer field

Related Book For answer-question

Investments An Introduction

ISBN: 978-1305638419

12th edition

Authors: Herbert B. Mayo

See More Books

Posted Date: Mar 29, 2024 04:59 PM

See More Questions

BACKGROUND You are an information analyst working for NEE. The company president has asked you to prepare a Quantitative analysis of financial, sales, and operations data to help determine which...
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
The carnival ride shown above is a single arm of length L that slowly rotates in a circle around the support pivot. Gravity is the main force acting on the ride car. Its position is controlled by a...
Need help with the incorrectanswer. I have tried 6,750, 81,000, and 0, but all areincorrect. Exercise 4-23 (Algorithmic) (LO. 4) Casper and Cecile divorced in 2018. As part of the divorce settlement,...
In the article "Nitrate Contamination of Alluvial Groundwaters in the Nakdong River Basin, Korea" (J. Min, S. Yun, et al., Geosciences Journal, 2002: 35-46), 41 water samples taken from wells in the...
In Fig. 6.6, does the pressure distribution along the four edges of the work piece depend on the particular yield criterion used? Explain.
Which domain of life do eukaryotes belong to?
Flagstaff Enterprises makes flagpoles. Dan Dalripple, the company's new controller, can find only the following partial information for the past two months: The current year's predetermined overhead...
A boat is being pulled by two tugboats using cables, one pulling it with a 37 o angle above the centre line of the boat and another at an angle of 19 o below the centre line. If the tension in the...
A dog running with a constant speed v is chasing a cat that is running with a constant velocity u. During the chase, the dog always heads towards the cat. At an instant, direction of motion of the...
Ian applies to Hometown Mortgage Company for $180,000 to buy a home. Hometown steers Ian toward an adjustable-rate mortgage even though he qualifies for a low-cost fixed-rate mortgage. This is a. a...
How can the use of debt serve to discipline managers?
What is the pecking order hypothesis, and how does it influence firms capital structures?
How does the firms internal condition affect its actual capital structure?
National Mining Company requires job applicants to pass certain physical tests. Only a few women who apply to work for National can pass the tests, but if they pass, they are hired. Nationals best...
Read the case study about Dunkin Donuts operating system and write a paper on it
The Pletcher Transportation Company uses a responsibility reporting system to measure the performance of its three investment centers: Planes, Taxis, and Limos. Segment performance is measured using...
Describe the link between the size of an organization and the formalization process.
Identify and describe the major features of the Strategic Management model.
Identify and describe the meaning of the term's formalization and informal.

A $3200 investment accumulated to $3343.34 after 5 months. What was the annual rate of interest? Answer

Question:

Expert Answer:

Investments An Introduction

Students also viewed these mathematics questions