Question: A person deposits $ 1 , 5 1 3 in an account that pays 8 . 1 9 % interest per yearInterest is compounded 4

A person deposits $1,513 in an account that pays 8.19% interest per yearInterest is compounded 4 times per yearThe money remains in the account for years What is the interest rate per period? %

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock 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!